---
title: "Memecoin trader briefly becomes millionaire off throwaway Elon Musk X gag"
url: https://diffcoin.com/memecoin-trader-briefly-becomes-millionaire-off-throwaway-elon-musk-x-gag/
description: "One lucky trader has seemingly turned $10,000 into just over $1 million in less than ten days after purchasing a memecoin “TROLL,” just moments after Elon…"
published: 2024-01-18
updated: 2024-01-18
author: "Mila"
site: "Diffcoin"
---

# Memecoin trader briefly becomes millionaire off throwaway Elon Musk X gag

One lucky trader has seemingly turned $10,000 into just over $1 million in less than ten days after purchasing a memecoin “TROLL,” just moments after Elon Musk changed his bio on X to “Chief Troll Officer.”

Etherscan data cited by blockchain data provider LookOnChain shows the trader converted a total of 4.3 Ether (ETH) — worth approximately $10,000 at the time — into 19 trillion TROLL tokens.

> In just 10 days, this trader turned $300 into $1.03M!
> 
> How did he do it?
> 
> After noticing that [@elonmusk](https://twitter.com/elonmusk?ref_src=twsrc%5Etfw) had changed his Twitter profile to “(CTO) Chief Troll Officer”, this trader immediately withdrew 4.313 [$ETH](https://twitter.com/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw)($10,113) from [#Binance](https://twitter.com/hashtag/Binance?src=hash&ref_src=twsrc%5Etfw) and spent 4.3 [$ETH](https://twitter.com/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw) to buy 19.37T [$TROLL](https://twitter.com/search?q=%24TROLL&src=ctag&ref_src=twsrc%5Etfw).… [pic.twitter.com/NWO7j4pyq4](https://t.co/NWO7j4pyq4)
> 
> — Lookonchain (@lookonchain) [January 17, 2024](https://twitter.com/lookonchain/status/1747489572001587630?ref_src=twsrc%5Etfw)

On the same day, the trader sold 9 trillion worth of TROLL to cover their buy-in, holding the remaining 10 trillion tokens — which, at one point, was worth $1.34 million.

The price has fallen since then, but the TROLL stack is still worth a staggering $864,000 at current prices, equating to an 8,540% gain from his initial capital.

*The trader’s holdings are worth $864,000 at current prices. Source: DeBank*

It’s worth noting that TROLL was initially launched in April last year and — like all memecoins — experienced a brief price surge before retracing to near its launch price. That all changed on Jan. 9 when Musk changed his X (Twitter) bio and sent the token surging over 150,000% in three days.

*Troll launched to little fanfare in April last year. Source: DexScreener*

In 2021, a single well-timed Musk tweet had the power to send his then-favorite memecoin, Dogecoin (DOGE), skyrocketing.

***Related:*** ***Dogecoin investors accuse Elon Musk of insider trading in amended class-action lawsuit***

It happened again when a non-affiliated memecoin drawing its namesake from Musk’s AI project, dubbed “Grok,” suddenly became one of the largest memecoins in space.

At its peak price of $0.027 on Nov. 13, GROK commanded a market capitalization of nearly $200 million, making it one of the largest new memecoins in the current cycle.

Those who came late to the GROK hype were burned, though, after an X post from blockchain sleuth ZachXBT revealed that various social media accounts and websites tied to Grok were repurposed from old projects.

***Magazine:*** ***Doctor Who materializes in Web3 — Tony Pearce’s journey in time and space***

[Source link](https://cointelegraph.com/news/memecoin-trader-makes-million-on-elon-musk-chief-troll-officer-bio)