Crypto analytics platform Bubblemaps claims one trader turned $1 million into $109 million trading Trump memecoin

Blockchain analytics platform Bubblemaps claims that pseudonymous crypto trader Naseem is the account that profited over $100 million trading the official TRUMP memecoin, according to a post on social media on Tuesday. 

According to research done with popular YouTuber Stephen Findeisen, better known as Coffeezilla, Naseem was able to “snipe” the TRUMP token shortly after it launched. An initial purchase of $1.09 million worth of the token — using an address beginning 6QSc2 — was then split across at least nine wallets , onchain data shows. 

While the research cannot definitely prove Naseem is ultimately behind the trading activity, circumstantial evidence suggests there are “too many connections to ignore,” the Bubblemaps team writes. 

In particular, an address beginning 93Wb has had multiple interactions with some of the wallets where the funds were funneled. This 93Wb address also at one point held the naseem.sol vanity asset. That said, some amount of evidence points to other potential traders, the researchers noted, though “with lower certainty and little on-chain evidence.”

Bubblemaps gave Naseem the ability to respond to questions regarding potential insider trading, which the trader denied. Although he was able to buy over $1 million worth of TRUMP within the first second of trading, in part by paying a $84,000 priority transaction fee, Naseem said he was not told directly about the launch. 

“He shared screenshots showing that he and his crew spotted an official Meteora address interacting with a TRUMP-USDC pool one day before launch,” Bubblemaps wrote. “In short, he claims Meteora unintentionally leaked TRUMP.”

“Naseem is not a random trader, but an expert sniper with a proven track record, ” Bubblemaps noted. Some of the trades mentioned included making $1 million trading Haliey Welch’s ill-fated HAWK token and the controversial LIBRA token promoted by Argentinian President Javier Milei.

The Block reached out to Naseem for a statement.