Crypto trading is all about timing and the investment strategy. And every successful investor will agree to the same regardless of their expertise and experience. The crypto market has high volatility issues, which can make fortunes if the time is right or can cause disaster when the opposite hits. However, some crypto trader are the motivation to continue with their heavy profit-making stories. One such incident speaks of an investor making $750,000 recently with an investment of just $1k in SunWukong, shocking the audience.
Crypto Trader Made $750K With Just 1K
Though the crypto market’s sentiments turned neutral per the fear and greed index, an unknown crypto trader steals the limelight after making $750K in the newly launched token. As per Arkham Intelligence X’s post, this anonymous trader bought 43.8 million SunWukong, worth only $999.9 just three days ago. Within a short period, the same $1k turned into $750,000 because of the promotional activities of the Tron founder.
Congratulations to trader TDm2 for turning $1K into $400K on SUNWUKONG
TDm2 bought $999.9 of SUNWUKONG before it exited @sunpumpmeme’s bonding curve 2 days ago.
After Justin Sun changed his profile picture to Sun Wukong, TDm2’s tokens are now worth $403,187 – a >400x gain.… pic.twitter.com/DYyMAFfjcR
— Arkham (@ArkhamIntel) August 21, 2024
Justin Sun, the founder of Tron, has earlier changed his X platform’s profile picture to the token image, causing an istant rush of demand among investors. As Sun has been an influential personality in the crypto world, SunWukong’s price surged almost immediately, making heavy profits for the early buyers.
More importantly, this meme coin was launched just recently after the launch of the Black Myth: Wukong, a Chinese folklore-based video game on August 20. It became an instant hit with onboarding more than 2.2 Million users within a day.
The impact of that, along with Justin Sun’s involvement, has pushed the token by more than 566,500% within 24 hours. With that its market cap surged from $3,000 to $17 million, making millions of dollars for every holder, including this one anonymous trader.
Interestingly, the crypto investor still holds all of its bought tokens per the Tronscan data, raising the expectation of other holders for upcoming gains.
How SunWukong is Performing Today?
SUNWUKONG instant popularity clarifies the hype around meme coins, especially with the TRON ecosystem. Earlier, Solana meme coins were the trend at the beginning of the year, but now that has changed to TRON.
With only few three days since the launch, this meme token now holds $9.1M in market capitalization and $6.5M in trading volume, indicating high demand.
Moreover, it is now trading at a value of $0.00907, moving down from its best-performing moment. However, despite that, it is still profitable for many. The token, which this crypto trader still holds, is now worth only $397,266, reducing almost half of its earlier valuation.
Final Thoughts
An anonymous crypto investor has shocked the investor’s world with his heavy profit margin on the meme-based cryptocurrency’s investment. Arkham, a crypto analytics platform, revealed how a trader bought only $1k worth of a game-based meme coin and made $750,000 almost immediately. The platform also revealed Justin Sun’s promotional involvement, pushing the token market cap by 566,500% within 24 hours. The crypto trader still has the 43.8 Million tokens, but the value has now declined to $397K.
The post Crypto Trader Made $750K With $1K As Token Surged 566,500% appeared first on CoinGape.
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