A cryptocurrency trader has managed to turn $10,000 into a $1 million stash in just 10 days, taking advantage of a small change in the profile of X CEO Elon Musk, who wrote “(CTO) Chief Troll Officer) on his profile.
The trader, seeing the move, withdraw 4.313 ETH tokens from leading cryptocurrency exchange Binance, worth around $10,100, and spend 4.3 ETH to buy 19.37 tokens of the $TROLL cryptocurrency.
According to on-chain analysis service Lookonchain, the trader later on sold 9.37 trillion tokens for 5.318 ETH, worth around $12,400, to get a return on their investment, and is now still holding onto 10 trillion tokens worth over $1 million.
Notably, another cryptocurrency trader managed to take advantage of the change as well, buying up 80.77 trillion $TROLL tokens for $30,000, with the price of the cryptocurrency skyrocketing to the point their holdings were worth $2.79 million.
Elon Musk, the CEO of Tesla, Space X, and X, is a prominent figure on the social media platform formerly known as Twitter and has a strong impact on the crypto space. His recent change of profile description drew a lot of attention, with thousands of reactions and shares.
The TROLL token saw a huge spike, rising by 250% in less than a day and by over 10,000% in six days as a result. This isn’t the first time Musk has inadvertently affected the cryptocurrency space. In November 2023, he posted a picture of his dog Marvin, which boosted the memecoin Marvin Inu by over 400%, and it remained about 100% higher than the previous day.
Earlier, he dressed his pet Floki as the X CEO, which increased Floki Inu by 40% at the time, with the project and other memecoins based on the Shiba Inu meme still often surging from time to time.
Featured image via Unsplash.
