The cryptocurrency market continues to surprise its followers. According to an analysis by monitoring platform Arkham, a trader seems to have missed a big opportunity in a memecoin he purchased.
According to the data, the trader with the initial address TDi made a purchase of SUNDOG for $65 on SunPump, a memecoin mining platform on the Tron network, immediately after its launch, and then sold it 20 minutes later for a profit of $495.
But the interesting part is that if this trader had not sold the SUNDOG tokens and kept them, he would have had a fortune of $2 million after 4 days.
However, it is important to note that almost all memecoin launches either end up being scams or the value of investors’ tokens being wiped out. While such lucky trades do happen from time to time, the vast majority of cryptocurrency investors lose money on memecoins.
On the other hand, there is currently a huge hype about memecoin launches on the Tron network. These memecoin launches, fueled by Tron founder Justin Sun, have led to the emergence of thousands of memecoins on the Tron network.
*This is not investment advice.