This week, Elon Musk’s impact on Smart Money ventures reached new heights as his involvement sparked a buying frenzy for the meme coin $TROLL, resulting in substantial profits of $13.4 million for numerous addresses.
🧠💰 This week, @elonmusk made the biggest impact on Smart Money profits:
🙃 Meme coin $TROLL brought in $13.4M in profits for hundreds of addresses after Musk’s bio change on X turned into a buying spree. pic.twitter.com/fEgR7JRb95
— Scopescan (@0xScopescan) January 18, 2024
While $TROLL experienced stagnation since its introduction in April of the previous year, Musk’s notable endorsement triggered a surge in the token’s value. Presently, $TROLL joins the ranks of meme currencies that have witnessed increased value due to Musk’s influence, including Dogecoin, Shiba Inu, Floki, Baby Dogecoin, and MiLady.
Musk’s announcement of the Grok AI chatbot on November 5 coincided with the debut of the meme coin GROK, leading to a significant surge as traders capitalized on the excitement surrounding it.
Notable TROLL Transfers And Accumulation To Watch
One noteworthy report highlights a top $TROLL trader who transformed a $75,000 buying spree into profits totaling $515,000, while other traders saw gains reaching up to $461,000.
These four traders turned $131K into ~$6M with #memecoin $TROLL!
They bought 82.15T $TROLL ($131K) between May-Dec 2023 and started taking profit after $TROLL surged 1123% (7D) post-@elonmusk’s X bio change to “(CTO) Chief Troll Officer“.
Current holding: 55.7T $TROLL ($6.06M).… pic.twitter.com/Xt91vQ3Xqf
— Spot On Chain (@spotonchain) January 17, 2024
In a separate revelation, four traders showcased their success by turning an initial investment of $131,000 into an impressive $6 million with the memecoin $TROLL.
Their strategic approach involved purchasing 82.15 trillion $TROLL ($131,000) between May and December 2023, subsequently capitalizing on a 1123% surge in $TROLL’s value over a 7-day period following Musk’s alteration of his Twitter bio to “(CTO) Chief Troll Officer.”
As of the latest update, their current holding stands at 55.7 trillion $TROLL, reflecting a valuation of $6.06 million.
Elon Musk’s ongoing impact on meme coins and Smart Money ventures continues to showcase the potential for substantial profits in the cryptocurrency market.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: jemastock/123RF // Image Effects by Colorcinch
