{"id":27355,"date":"2024-08-22T13:00:15","date_gmt":"2024-08-22T10:00:15","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=27355"},"modified":"2024-08-22T11:01:11","modified_gmt":"2024-08-22T08:01:11","slug":"anonymous-trader-turns-1000-into-750000-trading-tron-based-memecoin","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/anonymous-trader-turns-1000-into-750000-trading-tron-based-memecoin\/","title":{"rendered":"Anonymous Trader Turns $1,000 Into $750,000 Trading Tron-Based Memecoin!"},"content":{"rendered":"

After trading a new Tron-based memecoin dubbed SunWukong<\/strong> from an initial investment of $1,000,000, an unidentified trader on the Tron network has made headlines having profited over $750,000.<\/p>\n

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

With over 2.2 million concurrent players in the first 24 hours, Black Myth<\/strong> 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\u2014an amazing increase of over 566,500% in less than 12 hours.<\/p>\n

The trader’s SunWukong<\/strong> holdings were worth about $750,000<\/strong> 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<\/strong> tokens.<\/p>\n

This move coincides with notable expansion in the Tron-based memecoin deployer SunPump<\/strong>, 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<\/strong> has helped memecoin activity on the Tron network to explode.<\/p>\n

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.<\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i>Telegram, <\/span><\/i><\/a>YouTube<\/span><\/i><\/a>, and <\/span><\/i>Twitter<\/span><\/i><\/a> channels for the latest <\/span><\/i>news<\/span><\/i><\/a> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

After trading a new Tron-based memecoin dubbed SunWukong from an initial investment of $1,000,000, an unidentified trader on the Tron network has made headlines having profited over $750,000. 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<\/p>\n","protected":false},"author":6,"featured_media":27358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1],"tags":[1332,8048,8066,293],"class_list":["post-27355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","tag-memecoin","tag-sunpump","tag-sunwukong","tag-tron"],"yoast_head":"\nAnonymous Trader Turns $1,000 Into $750,000 Trading Tron-Based Memecoin! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/anonymous-trader-turns-1000-into-750000-trading-tron-based-memecoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Anonymous Trader Turns $1,000 Into $750,000 Trading Tron-Based Memecoin! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"After trading a new Tron-based memecoin dubbed SunWukong from an initial investment of $1,000,000, an unidentified trader on the Tron network has made headlines having profited over $750,000. 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