TechFlow, on May 5, according to Coindoo, the developer of a Memecoin project named POPE made approximately $1 million in profit just two hours after the token's launch.
Blockchain data shows the token was inspired by a viral meme image depicting Trump as the Pope. Prior to the project's launch, the developer created a new wallet and used $100,000 in USDC to purchase 5.8 million POPE tokens. When the price of POPE rose to $0.286, the developer sold 1.5 million tokens, making around $688,000 in profit. The wallet currently still holds tokens worth approximately $286,000.
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