As the cryptocurrency industry continues to grow, investors are finding opportunities to profit from carefully timing their crypto trades, as demonstrated in the example of one crypto trader making over $67,300 in just seven hours trading meme coins on the Tron (TRX) network.
Specifically, trader ‘TEP7…T1da’ has spent 5,000 TRX, worth $650, to purchase 6.87 million Sundog (SUNDOG), after which they sold 4.57 million SUNDOG for 522,840 TRX, worth $68,000, thus earning 517,849 TRX, or $67,300, according to the data shared by Lookonchain in an X post on August 16.
As the blockchain analytics platform pointed out, these trades took place over the course of a mere seven hours, during which the crypto trader made a 104 times return on their investment, and they are still holding 2.29 million SUNDOG, worth $76,000 in unrealized profits.
Crypto trader’s actions. Source: Lookonchain
As a reminder, meme coins like Sundog have marked the 2023 and 2024 crypto bull rallies, gaining popularity thanks to memes and celebrities although without offering clear value, with some of the notable celebrity-based coins including Andrew Tate’s Daddy Tate (DADDY) and Iggy Azalea’s Mother Iggy (MOTHER).
Sundog price analysis
Meanwhile, Sundog itself was at press time changing hands at the price of $0.049769, indicating a massive 77,296.84% increase on its daily chart, according to the most recent data retrieved from Bitget, one of the leading crypto, spot, and futures trading platforms, on August 16.
Sundog price chart. Source: Bitget Wallet
All things considered, this crypto trader has managed to make massive profits from their careful actions trading the above meme coin. However, extreme caution is necessary when trying to emulate them and gain profit, as such tokens can fluctuate wildly in their price, as evident in Sundog’s behavior.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
