A trader reportedly transformed $300 into a staggering $1.03 million within just ten days.

What Happened: This financial feat was connected to Tesla CEO Elon Musk’s X (formerly Twitter) shenanigans, where his profile change hinted at investment opportunities for the savvy trader.

According to Lookonchain, a blockchain analysis platform, the trader withdrew 4.313 Ethereum (CRYPTO: ETH) (equivalent to $10,113) from the cryptocurrency exchange Binance as soon as they noticed Elon Musk had updated his X bio to “(CTO) Chief Troll Officer.” 

The trader used this amount to purchase 19.37 trillion TROLL (CRYPTO: TROLL) tokens, and then sold 9.37 trillion TROLL tokens for 5.318 Ethereum (around $12,467), while still retaining 10 trillion TROLL tokens, now valued at $1.03 million.

TROL, saw a 20% increase in the trading price over the last 24 hours, trading at $0.0000001193.

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Why It Matters: This is not the first time traders have capitalized on Musk’s activities on Twitter. In November, a token named after Musk’s AI Chatbot GROK surged over 650% in value.

Approximately 400 GROK tokens were introduced to the crypto market by anonymous developers and quickly achieved a significant market capitalization, rewarding early adopters.

Historically, the cryptocurrency market has seen various parties take advantage of popular trends by launching tokens tied to prominent personalities, such as Ethereum’s co-founder Vitalik Buterin, or even based on humor from well-known X accounts, including that of McDonald’s. 

Earlier this week, an anonymous trader known as RockeFeller.eth, turned $5,000 into $1.8 million in just a month by trading the Solana (CRYPTO: SOL) based memecoin dogwifhat (CRYPTO: WIF), which soared to a market cap of over $300 million.

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