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A crypto trader turned $10,000 into $1 million in just 10 days by investing in Etherum-based TROLL tokens. This happened shortly after Elon Musk captioned his X (Twitter) bio “Chief Troll Officer (CTO).”
Etherscan’s on-chain data shows that a crypto trader made millions by purchasing TROLL tokens at the right time. The wallet initially received $10,113 worth of TROLL tokens. This transaction took place before TROLL’s value skyrocketed over the next ten days. The massive price increase was triggered by Elon Musk’s X-Bio switch.
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 , the trader withdrew 4.313 Ethereum (ETH) from Binance and used the proceeds to purchase 19.37 trillion worth of TROLL.
Afterwards, 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 owns 10 trillion TROLL tokens worth $1.03 million. Even though recent data shows that the crypto trader’s TROLL holdings have fallen a bit, they are still up 8,640%.
Crypto traders benefit from the price increase
TROLL’s valuation is down 11.6% in the last 24 hours, but is still up 1,863% in the last seven days and 33,410% in the last month. Many crypto traders had the chance to make a fortune during this period.
This trader’s portfolio is not the only one that has seen an increase in value in recent days. Lookonchain’s data shows that another crypto trader made a huge profit of $2.7 million with a $30,000 investment in TROLL following Musk’s X-Bio change.
The trader purchased 80.7 trillion TROLL tokens worth $2.7 million days later.
“What a lucky guy! He turned a loss into a profit of over $2.7 million! Since @elonmusk changed his profile to “(CTO) Chief Troll Officer,” the price of $TROLL has skyrocketed! A trader spent $30K to buy 80.77T $TROLL, now worth $2.79M!”
Elon Musk’s influence on the market
Elon Musk continues to have a strong influence on the crypto market, influencing the direction of certain assets with tweets and supposed future actions.
In 2021, a tweet from Musk drove up the value of Dogecoin by over 50%. He described the asset as the people’s cryptocurrency, adding that there are no highs and no lows, just DOGE.
Dogecoin is the people’s crypto
“What a lucky guy! He turned a loss into a profit of over $2.7 million! Since @elonmusk changed his profile to “(CTO) Chief Troll Officer,” the price of $TROLL has skyrocketed! A trader spent $30K to buy 80.77T $TROLL, now worth $2.79M!”
Elon Musk’s influence on the market
Elon Musk continues to have a strong influence on the crypto market, influencing the direction of certain assets with tweets and supposed future actions.
In 2021, a tweet from Musk drove up the value of Dogecoin by over 50%. He described the asset as the people’s cryptocurrency, adding that there are no highs and no lows, just DOGE.
Dogecoin is the people’s crypto
— Elon Musk (@elonmusk) February 4, 2021
Although he said certain tweets about the asset were “intended as a joke,” the broader crypto community continues to speculate about the recent moves.
After purchasing X, Dogecoin has faithfully touted possible integration with the app, which has boosted its use cases and adoption.
Last year, after Ellon Musk unveiled GROK AI, tons of memecoins on the subject were released, with many of them seeing significant price spikes before cooling off again.
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