President Donald *****’s memecoin has reportedly generated more than $802 million since its debut, according to Coinbase director Conor Grogan.
Grogan pointed out that the project’s team has funneled over $482 million worth of USDC, SOL, and ***** tokens to exchanges.
Meanwhile, $240 million in USDC sits in out-of-range liquidity, with an additional $50 million actively in range. Transaction fees alone have brought in over $29.3 million in USDC.
Grogan suggested that the profit margin might be significantly higher as the project team still retains a substantial $16 billion worth of ***** tokens and because:
“Not counting ***** LP meteora fees or wallets I’m less sure of.”
Grogan’s estimates do not include Melania *****’s meme token launch.
This revelation highlights how profitable the President ***** token launch was. According to CryptoSlate’s data, the token’s value quickly spiked to a new all-time high of $75.35 following its introduction on Jan. 18.
However, it has been on a downward trend in recent days amid the broader crypto market volatility. The token has shed about 18% of its value during the past day to under $20, and its weekly losses now exceed 30%. The token is down 76% from its peak.
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