The Donald Trump wind is causing significant increases in meme coins issued in his name. MAGA Hat (MAGA), a meme coin launched last week, surged more than 10 times in a short period of time, while opportunistic traders made significant money.

According to Lookonchain’s analysis, one trader made a profit of $2.7 million in 3 days with a return of 505%. The trader, who bought 6 billion MAGA worth 537 thousand dollars on the 24th and 25th of the month, sold 1.5 billion of these tokens this morning.

The trader, who sold $745,000, still holds 4.5 billion MAGA tokens worth $2.5 million.

Trump is now a cryptographer!

As it is known, Donald Trump, who is the biggest rival of the current president Biden, has made statements about cryptocurrencies in recent weeks. Stating that Biden did not understand cryptocurrencies last week, Trump said on Saturday night, “I will protect your Bitcoin and crypto custody rights. I will prevent crypto-focused companies from leaving the US and keep people like Elizabeth Warren away from this sector.”

These words sent many meme coins issued in Trump’s name soaring. The MAGA Hat (MAGA), where Trader trades, has risen more than 150% in the last 24 hours.

MAGA, short for Trump’s “Make America Great Again”, or “Make America great again”, became a major slogan in the US in the previous election.