Crypto Investor Nets 10,362% Return in Seven Hours Trading Memecoins
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Recently, a trader earned an impressive $67,300 within seven hours by trading meme coins on the Tron network.
This trader, identified as ‘TEP7…T1da’, initially invested 5,000 TRX (around $650) to buy 6.87 million Sundog (SUNDOG) tokens. They later sold 4.57 million SUNDOG for 522,840 TRX ($68,000), achieving a profit of 517,849 TRX ($67,300), according to data from Lookonchain shared on X on August 16.
These transactions, executed over just seven hours, resulted in a 104-fold return on their investment. The trader still holds 2.29 million SUNDOG, valued at $76,000 in unrealized gains.
Meme coins like Sundog have surged in popularity during the 2023 and 2024 crypto bull runs, often driven by memes and celebrity endorsements, despite lacking intrinsic value. Notable examples include coins endorsed by Andrew Tate and Iggy Azalea.
At the time of reporting, Sundog was trading at $0.049769, marking a significant 77,296.84% increase on its daily chart, according to Bitget’s latest data from August 16.
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