Blockchain analytics platform Arkham Intelligence exposed on Aug. 21 that the dealer bought 43.8 million SunWukong tokens for almost $997. The value of the token skyrocketed after Tron inventor Justin Sun decided to switch his X profile image to SunWukong, a character from the just published video game Black Myth: Wkos.

With over 2.2 million concurrent players in the first 24 hours, Black Myth released on Aug. 20 and rapidly rose to become one of the most popular single-player games on the Steam platform. Sun’s support paired with this chatter drove the SunWukong token to soar from a measly $3,000 to a high value of $17 million—an amazing increase of over 566,500% in less than 12 hours.

The trader’s SunWukong holdings were worth about $750,000 at its zenith. But since its all-time high, the memecoin’s price has plunged 58%, therefore the token’s market capitalization at the time of publishing is $7.4 million. With their present holdings at about $329,000, the trader has not yet sold any of their SunWukong tokens.

This move coincides with notable expansion in the Tron-based memecoin deployer SunPump, which debuted on Aug. 10 and already brings in over $1 million in income. Inspired by the well-known Solana-based memecoin deployer pump.fun, SunPump has helped memecoin activity on the Tron network to explode.

Some applaud the emergence of memecoin trading as evidence of the accessibility and promise of cryptocurrencies, while others attack these speculative assets for being “extractive” and hence compromising of the fundamental values of the bitcoin ecosystem.

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