Legendary Crypto Trader Triggers Correction for Trump-Themed Memecoin After Big Rallies: Lookonchain

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A blockchain tracking firm says a crypto trader known for accurately calling tops and bottoms has caused a massive correction for MAGA (TRUMP), a memecoin inspired by presidential nominee Donald Trump.

The pseudonymous trader known as Gigantic Rebirth (GCR) reportedly sent over half of his TRUMP stack to crypto exchange MEXC, presumably to sell on the open market, according to Lookonchain.

“Legendary trader GCR (GiganticRebirth) deposited 466,000 TRUMP ($2.4 million) to MEXC, causing the price to drop by 10%.

GCR spent 703,000 USDT to buy 936,000 TRUMP at $0.75 from Dec 9th, 2023 to Jan 19th, 2024.

He currently holds 470,000 TRUMP ($2.28 million), with a profit of ~$4 million!”