Bubblemaps: A trader turned $1.09 million into $109 million by trading Meme coin TRUMP

PANews reported on February 19th that according to The Block, the blockchain analysis platform Bubblemaps claimed in a social media post on Tuesday that, according to its analysis, the anonymous Cryptocurrency trader Naseem profited $109 million through trading the Meme coin TRUMP account. According to research conducted in collaboration with YouTube blogger Coffeezilla, Naseem successfully 'sniped' the TRUMP token shortly after its launch. On-chain data shows that the address starting with 6QSc2 first purchased tokens worth $1.09 million, which were then distributed to at least 9 wallets. While the study cannot definitively prove that Naseem was the mastermind behind these trading activities, the Bubblemaps team wrote in the report that indirect evidence suggests "there are too many connections that cannot be ignored." Bubblemaps allows Naseem to respond to potential insider trading issues, which Naseem denies. Although he was able to purchase TRUMP tokens worth over $1 million within the first second of trading, in part due to paying a priority trading fee of $84,000, Naseem stated that he was not directly informed of the token's issuance time.