The 'Elon Musk Effect': Lucky Trader Doubles $10,000 with 'Meme Coin', Scores $1.3 Million Profit

A cryptocurrency trader turned $10,000 into more than $1 million by Trolling the (TROLL) memecoin after Elon Musk wrote “(CTO) Chief Memetician” on his Twitter profile.
After noticing the change in Musk’s profile on January 9, the trader quickly bought 19.37 TROLLs for 4.313 ETH (worth $10,113). Within three days of Musk’s profile change, the price of TROLL soared by 150,000%, and the trader sold 9 trillion TROLLs for $1.34 million.
In just 10 days, this trader turned $300 into $1.03 million!
How did he do it?
After noticing that Elon Musk changed his Twitter profile to “(CTO) Chief Memetician,” the trader immediately withdrew 4.313 ETH ($10,113) from Binance and bought 19.37 TROLL with 4.3 ETH. …
The remaining holdings are worth about $836,000, according to DeBank data.
Elon Musk's influence on memecoin continues
TROLL had been flat after its launch in April last year until Musk’s involvement triggered a stunning rally. The token has now joined the ranks of meme coins that have surged since his involvement.
Previously, Musk's influence has caused the value of meme coins such as Dogecoin, Shiba Inu, Floki, Baby Dogecoin and MiLady to soar.
On November 5, a meme coin called GROK was released when Musk announced the launch of the Grok AI chatbot. GROK surged to over 33,000% due to hype. Later, GROK price plummeted due to suspected fraud.
Musk’s influence on the memecoin’s price has also previously landed him in legal trouble, with Dogecoin investors accusing Musk of manipulating the market through his actions.
Musk's lawyers asked for the case to be dismissed, arguing that "supportive tweets" and "funny pictures" did not constitute manipulation.
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