Group of Traders Made $99.6M from Early Purchases of Melania Trump Memecoin
In a surprising turn of events, a report from the Financial Times unveils that a small group of traders profited an incredible $99.6 million by acquiring the Melania Trump memecoin, MELANIA, just moments before its official announcement on January 19. During the brief two and a half minutes leading up to the launch, about two dozen digital wallets made strategic pre-launch purchases. This phenomenon has drawn attention to the volatile nature of meme-based cryptocurrencies and raised questions about market manipulation and ethical trading practices. Investors should take note of this in the memecoin landscape, as it highlights risks and opportunities in such unpredictable markets.