A memecoin trader recently flipped a meager portfolio to a million-dollar investment by trading Troll (TROLL) following the recent bio change from Elon Musk.
The on-chain analytical resource Lookonchain first spotlighted the development in a post on X today. Notably, the Troll memecoin has been trading since last April, having captured the attention of interested market participants on a lower scale than other projects like Pepecoin (PEPE).
However, the trader in question executed his first Troll purchase on Jan. 9 amid the token’s increased social activity. This surge in social activity was unintentionally sparked by Tesla CEO Elon Musk through his humorous bio change.
Recall that Musk officially stepped down as CEO of X Corp. (formerly Twitter) last June following the purchase and rebranding of the social media firm. The business mogul would later only assume the positions of chairman and CTO of the company.
In a recent development, Elon Musk decided to change his X bio to “Chief Troll Officer (CTO),” a play on words that he did not expect to trigger a price reaction in the crypto scene. Nonetheless, Troll recorded an impressive price surge following this development.
Traders Leverage the TROLL Rally
Several individuals jumped on the moving train, and this trader was one of them. The individual withdrew 4.31 Ethereum (ETH) worth $10,113 from Binance on Jan. 9, 02:45 (UTC).
A few minutes later, he swapped 3.1 ETH for 13.6 trillion TROLL and then 1.3 ETH for 5.7 trillion TROLL on Uniswap V2.
In total, he purchased 19.3 trillion TROLL tokens for 4.31 ETH ($10,113) as TROLL surged in price, the worth of these funds appreciated by a massive margin.
The trader then swapped 9.3 trillion TROLL for 5.31 ETH worth $13,528 less than an hour after the second purchase. With this move, the individual recovered his 4.3 ETH and an extra change.
He then decided to hold exactly 10 trillion TROLL as balance. Amid TROLL’s sustained price surge, these 10 trillion tokens are now worth $1,034,383 ($1.03 million), according to Lookonchain.
Notably, TROLL rallied massively on Jan. 15, representing a 3,195% rise from its value on Jan. 11. Its rally also helped another trader flip $30,000 to a whopping $2.79 million.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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