INSIDERS EARNED ALMOST $100 MILLION ON MELANIA PURCHASES BEFORE THE LAUNCH
A small group of traders earned $99.6 million by purchasing the meme coin MELANIA before Melania Trump's announcement of the coin's launch. This was revealed by FT. The First Lady of the United States introduced the token on social media just hours before her husband Donald Trump's inauguration.
Two and a half minutes before the publication of Melania Trump's post on the Truth Social platform, two dozen wallets purchased MELANIA for a total of $2.6 million. Amid a sharp price increase, traders quickly sold the coins, with 81% of the assets being liquidated within the first 12 hours.
One wallet spent $681,000 on the meme coin just 64 seconds before the announcement of the project's existence. Within a day, this account earned $39 million by offloading most of its assets. Sales in the following three days brought in an additional $4.4 million.
The first wallet to buy tokens ahead of the launch acquired MELANIA for $40,000 just 141 seconds before the post went live. The account then sold 86% of the coins within two hours, earning $2.5 million.
FT confirmed the findings of Bubblemaps experts, which state that this wallet was funded from an account previously used in Hayden Davis's projects.