This Trader Flipped $650 to $67k Trading Tron-Based Memecoin

A trader had his lucky day trading a Tron network-based memecoin after flipping his initial investment by 104x in just seven hours. The wallet address, TEP7GnzppBcM3boS86iJ3xe2yborVWT1da, turned $650 to $67,300 trading SUNDOG.

Data from Lookonchain showed that the user spent 5,000 TRX (worth $650) to purchase 6.87 million SUNDOG. The user’s early purchase saw his money grow exponentially with the token.

The wallet owner sold a part of his SUNDOG token seven hours later, making insane returns. He sold 4.57 million of the memecoin for 522,840 TRX ($68,000), making a profit of 517,840 TRX ($67,300). This is about 104,000% of his initial investment.

According to the data, the wallet still contained 2.29 million SUNDOG, valued at 584,615 TRX ($76,000). SUNDOG has retraced considerably from its daily high of $0.067 and was trading at $0.0486 at the time of writing.

Justin Sun Pushes for Tron Meme Mania

Amidst growing attention on memecoins based on the Tron blockchain, the network’s founder Justin Sun is pushing the protocol to be the next home of popular memecoins. 

According to recent reports, Tron-based DeFi platform Sun.io, in collaboration with Sun Justin, has launched a memecoin creator on the Tron network with $10 million in funding to support memecoin creators. 

The platform, dubbed SunPump, will rival Solana’s notorious Pump.fun. The Solana-based project has led to millions of memecoins being deployed on the blockchain, keeping a significant place in the memecoin sector. Pump.fun became the leading 24-hour revenue generator by chain on August 14 after generating $5.33 million.

Sun would be looking to replicate such a feat with SunPump and kickstart a memecoin frenzy on the Tron network. The blockchain protocol has generated $1.38 million in transaction fees in the past 24 hours, data from DeFiLlama showed.