A memecoin trader on the Tron Network has reportedly made massive profits by trading memecoins, according to data from Lookonchain. The trader, known as “TEP7…T1da,” made a significant return in just a few hours by investing in the $SUNDOG. The trader initially spent 5,000 $TRX, equivalent to about $650, to purchase 6.87 million $SUNDOG tokens.
Tron Trader Earns $67K, Holds $76K in Memecoin
After this, he sold 4.57 million of these tokens for 522,840 $TRX, which is approximately $69000. This quick trade earned him 517,840 $TRX, which is approximately $67,300, a 104x return on his investment.
Even after this profitable sale, the trader still holds 2.29 million $SUNDOG tokens. The current value of these remaining tokens is about $76,000 in unrealized profits. It means that the holder can make more money if he wants to sell the remaining tokens.
Tron Network Trader’s Profits Show Memecoin Volatility
The story also highlights high returns in the memecoin category, where you can end up making or losing a lot of money in the blink of an eye. It has led to the discovery of this trader who trades on the Tron Network using these types of cryptocurrencies.
However, it is necessary to note that memecoin trading can be rather volatile, even with the prospect of high yields. The price swings can be very sharp, and not everybody will be a highly successful trader.
The case, reported by Lookonchain, of such memecoin traders as “TEP7… T1da” clearly shows that proper time management and correct strategy can bring significant profits in the world of cryptocurrencies, mainly in the segment of memecoins. Ultimately, it is wise to always be careful and any trader should remember that trading in cryptocurrencies, especially memecoins is very risky at the same time.
Source: https://blockchainreporter.net/memecoin-trader-makes-104x-return-on-sundog-in-7-hours/