A crypto trader has turned $10,000 into $1 million in just 10 days by investing in Etherum-based TROLL tokens. This happened right after Elon Musk made his X (Twitter) bio read “Chief Troll Officer (CTO)”.
On-chain data from Etherscan shows that a crypto trader made millions from purchasing TROLL tokens at the right time. The wallet initially received TROLL tokens worth $10,113. This transaction happened before TROLL’s value skyrocketed within the next ten days. The massive price hike was pushed by Elon Musk’s X bio change.
In just 10 days, this trader turned $300 into $1.03M!
How did he do it?
After noticing that @elonmusk had changed his Twitter profile to “(CTO) Chief Troll Officer”, this trader immediately withdrew 4.313 $ETH($10,113) from #Binance and spent 4.3 $ETH to buy 19.37T $TROLL.… pic.twitter.com/NWO7j4pyq4
— Lookonchain (@lookonchain) January 17, 2024
After the Tesla CEO changed his X account bio, the trader withdrew 4.313 Ethereum (ETH) from Binance and used the proceeds to purchase 19.37 trillion worth of TROLL.
Thereafter, the trader made up the initial capital by selling 9.37 trillion TROLL tokens for 5.318 ETH. These were worth approximately $12,467 at the time.
Etherscan data shows that the trader now holds 10 trillion TROLL tokens worth $1.03 million. Even though recent data shows that the crypto trader’s TROLL holdings have plunged a little, their gains are still up 8,640%.
Crypto traders take profit from price rally
TROLL’s valuation is down 11.6% in the last 24 hours but still stands at a staggering 1,863% gain in the past seven days and 33,410% in the past month. Many crypto traders have had a chance to make a fortune in that period.
This trader’s portfolio is not the only one to see value hikes in the past few days. Data from Lookonchain shows another crypto trader made a huge $2.7 million profit after a $30,000 investment in TROLL following Musk’s X bio change.
The trader bought 80.7 trillion TROLL tokens valued at $2.7 million days later.
“What a lucky guy! This guy turned a loss into a profit of over $2.7M! Since @elonmusk changed his profile to”(CTO) Chief Troll Officer”, the price of $TROLL skyrocketed! A trader spent $30K to buy 80.77T $TROLL, which is now worth $2.79M!”
Elon Musk’s grip on the market
Elon Musk continues to have a strong influence on the crypto market, shaping the direction of certain assets with tweets and perceived future actions.
In 2021, a tweet from Musk spiked Dogecoin’s value by over 50%. Describing the asset as the people’s crypto, he added that there are no highs, no lows, only DOGE.
Dogecoin is the people’s crypto
— Elon Musk (@elonmusk) February 4, 2021
Although he said certain tweets about the asset are “meant to be jokes,” the wider crypto community continues to speculate on recent moves.
After he purchased X, Dogecoin faithfully touted a possible integration with the app, boosting its use cases and adoption.
Last year, after Ellon Musk rolled out GROK AI, tons of memecoins were released around the theme, with many recording significant price spikes before cooling off.
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