According to on-chain data, a trader managed to secure a significant profit following Elon Musk’s influence on the rise of a meme coin.
As per Lookonchain’s data, the trader withdrew 4.3 ETH from Binance immediately after Musk updated his Twitter bio to “(CTO) Chief Troll Officer.” This ETH was then used to acquire a staggering 19.37 trillion $TROLL coins.
Since Musk’s bio change on January 8, the TROLL token has experienced an astounding 57,000% surge over the past week, currently holding a trading value of $0.0000001256. The asset’s market cap has soared to $120 million, with a daily trading volume of approximately $38 million.
The remarkable upward trajectory of TROLL has transformed the trader’s initial 4.3 ETH, valued at around $10,000, into an impressive $1.14 million within just one week.
Subsequently, the trader withdrew 5.3 ETH, equivalent to $12,467, in order to recoup the initial investment.
On-chain data further reveals that the associated address still holds 10 trillion TROLL coins, now valued at $1.03 million.