The crypto wallets that invested the largest amounts in Trump bought the coin on January 18, according to Nansen’s analysis. Meanwhile, the wallets that achieved the biggest return on their Trump investments had largely sold by January 20, and when the price was already tumbling from its peak. Circulating Trump coins are now valued at $ 5.4 billion.

“The earlier you are, the more you can bet. But if you bet a lot, it’s no sense to stay long because it’s not going to be so [the next] Apple or Nvidia, ”says Bartthere. “There is no value. So it certainly goes off. “

Some of the wallets that have benefited most from Trump show Nansen -data are many who trade in relatively small amounts, which implies that some regular people have managed to defeat the crowd in the same way as the big early traders. In the midst of the high-value ambiguity placed by J9TXV and others in the minutes after Trump was launched, armchair traders threw down as little as $ 50.

In addition to an incredible fortune and a bile, Sibenik and Powers claim, only one other theory could declare that traders plow hundreds of thousands of dollars in Trump, as soon as it was unveiled: the trades were placed by automatic sniping bots.

Sniping bots are usually programmed to tear several different coins immediately after launch, Powers says. Some of the wallets used to place the early high-value Trump Ambags contain ten other memecins, but others, including J9TXV, contain only a few.

“What we would not expect to see from a bot would only be a sign of one sign with a large position, especially if the sign was not announced before. The activity looks too specific, ”says Powers. “How do you encode Scripture for a bot to obtain one sign before you know it exists?”

Most sneaking bots are also programmed to deal with smaller dollar amounts, says Sibenik. ‘[The big early traders] Either being insiders or having an other party insight is more likely statements, especially given the very large amounts invested, ”says Sibenik.

In the absence of any rules regarding memecoins in the US, it may not necessarily be illegal for an issuer to give early notice to choose parties.

Recently, several federal lawsuits brought by investors have tried to argue that Memecoins should fall under security laws, controlled by the Securities and Exchange Commission, a regulatory agency to protect US investors. But in an interview on January 23, venture capitalist David Sacks, appointed by Trump as US AI and Crypto Czar, claimed that Memecoins should be treated as a kind of collectible, an unregulated asset class.

In an executive order signed on January 23, Trump erected a ‘working group on digital assets’, which he had the task of recommending appropriate crypto-related regulation and legislation.

“The cryptocurrency industry is still driving for clarity on regulation. The most important players want to be seen in financial markets as good faith actors, ”says Powers. ‘There are some dissatisfied from within the [crypto] The industry of this memecoin offering that seems to benefit from the moment. “

At the foot of the Trump website, a disclaimer of small prints claims that the Memecoin “is not intended to be an investment opportunity, investment contract or security of any kind.” The terms and conditions, meanwhile, stipulate that investors must waive the right to bring a class case in connection with the memecoin. They also claim that investors are not entitled to pursue damages, not even in the case of ‘misleading and unfair trading practices’ and ‘misrepresentation’ of the Trump covenant company administering the coin.

“It’s a beautiful warning,” Powers says. ‘Whether such waivers and disclaimer would keep in court is another matter. But putting the attitude on the road does not match the hope of the crypto industry to turn the page on what has come before. “