Traders Turns $5,000 into $1.8 Million with Elon Musk Meme Coin

One lucky crypto trader saw seven-digit returns on a $4,962 investment in a new Donald Trump meme coin.

According to Block Explorer, the trader purchased $4,962 worth of Dark Maga ($DMAGA) just seven days ago, and the position is now worth more than $1.8 million.

This surge seems to have been influenced by Elon Musk changing his profile picture to feature blue laser eyes.

$DMAGA is a new meme coin represented by a Trump avatar with blue laser eyes. The Republican candidate has taken a decisive turn towards crypto despite being skeptical of it during his tenure as the forty-fifth President.

It is important to note that there has been no official endorsement of $DMAGA by either Elon Musk or Donald Trump.

In crypto culture, red laser eyes is the symbol of the Bitcoin maximalist.

Numerous crypto supporters have adopted it in their social media profile pics, including celebrities like NFL star Tom Brady , politicians like Cynthia Lummis and Warren Davidson , and notably Elon Musk “ Just for a day ” shortly after he purchased $1.5 billion $BTC back in early 2021.

Yesterday, Musk changed his Twitter avatar to blue eyes, possibly as a signal for his support for Trump’s election campaign, or crypto in general, or conceivably both, in the tokenized form of $DMAGA.

The unknown trader’s $DMAGA holdings were worth $1.8 million as of yesterday morning UTC, although the token has since pulled back by 34% over the last 24 hours, according to CoinGecko .

Anticipation for the US Presidential elections in November is creating heavy volatility around meme coins based on US politicians.

In the last fortnight, coins based on Joe Biden , Donald Trump and Kamala Harris have all posted intraday gains and losses of double-digit percentage figures. Today, Jeo Boden ($BODEN) is up a whopping 140%, while Kamala Horris ($KAMA) grew 44%.

Of course, Elon Musk has not officially endorsed the coin

While Elon Musk Shills Trump Crypto, Traders Prepare For Olympics By Stockpiling New Meme Coin

Beyond Trump and Musk’s crypto bromance, another seminal event is likely to shape the meme coin landscape this year.

The 2024 Paris Olympics meets Meme Coin mania in a new token called The Meme Games ($MGMES).

The Meme Games prompts those who buy $MGMES tokens to select their favorite meme coin avatar, between Dogecoin, Pepe, DogWifHat, Brett and Turbo, and watch them race for a chance to claim a 25% bonus on their initial purchase.

$MGMES is currently selling via the presale website at a fixed presale price of $0.00905.

This means investors can purchase 10,000 $MGMES at just $90.50, with a 20% chance of automatically receiving an additional 2,500 $MGMES just moments after they buy.

This is the lowest price the token will be for the rest of the presale season, which will run concurrently with this year’s Paris Olympics and Paralympics. Investors have just two days to snap it up before the price moves incrementally higher to the next fixed presale price of $0.0091.

Participants can purchase $MGMES an unlimited number of times with no minimum purchase requirement to increase their chances of securing multiple 25% token bonuses.

The official project website and whitepaper encourage investors to stake tokens during the presale to take advantage of the frankly eye-watering 1123% APY on offer for those who stake on Ethereum right now. This figure is variable and decreases with the number of stakers, so to maximize gains, participants will want to stake early and stake big to maximise yield.

All told, The Meme Games is likely to outlast any fads shilled by Musk.

Follow The Meme Games on Twitter and Telegram for the latest updates.

Join the presale via the official website .