Trump Makes $3M on Memecoins

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Incoming US President, Donald Trump, is up more than $3M in 48 hours after a memecoin in his wallet surged by more than 800%. The memecoin, Trump Frog (TROG), was airdropped to his public address by the developer of the coin, likely looking to draw additional attention through Trump’s public wallet. In the same timeframe, another frog-themed memecoin, GUA, also made a huge move upwards, quintupling its value. Similar to TROG, these tokens were airdropped to Trump’s public address, netting him a paper gain of more than $570K.

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As an incoming US President with a publicly identified Ethereum wallet address due to its use in the launch of his NFT collection, it is no surprise that memecoin developers have been leveraging this address to drive attention to their launches, with many sending a significant portion of the supply to him. This is similar to how Ethereum founder, Vitalik Buterin, regularly receives airdropped tokens from memecoin launches, although Buterin often sells them very quickly, before donating the proceeds to charity.