A trader bought SUNDOG worth $1,690 and has made a whopping profit of over $20 million in less than a week, leaving the crypto space in mixed reaction.
According to the blockchain intelligence platform, Arkham’s tweet, the trader with address TT4s…DLkk is one of the earliest SUNDOG buyers, purchasing 104.33 million SUNDOG at $1,690. The crypto trader currently holds $19.52 Million of SUNDOG across seven addresses, and has also sent $1.08M SUNDOG to exchanges making a total profit of $20.60M.
The news has sparked off interesting takes from twitteratis, with some insinuating the ‘trader’ is Tron’s Justin Sun. While others believe the trader looks like an ‘insider’ and could be an attempt to carry out a rug pull.
SUNDOG, which is touted as the biggest memecoin on Tron is currently trading at $0.2088 and has seen a surge of 57.83% in just one day. With a market capital of $208,321,976, SUNDOG isd available on crypto exchanges including HTX, MEXC, Bitget, Poloniex, Hibt, Ourbit, KCEX, SuperEx. The coin is predicted to reach $1 by 2025.
SUNDOG has already gained momentum, with Justin Sun promoting it on social media, but with the abovementioned news surfacing, the memecoin is expected to gain ever more traction.
Binance has also listed SUNDOG coins for public trading. Irrespective of who made a profit of $20 Million- an insider or any regular trader making most of the memecoin’s hype, a personal research is always advisable before investing in any asset.
Also Read: Justin Sun Moves $156.41M Worth BTC Post BitGo’s WBTC Custody Change
Source: https://www.cryptonewsz.com/trader-buy-sundog-1690-profit-over-20million/