The crypto community is reeling over an anonymous trader who turned a $1000 investment in a new Tron memecoin into $400,000.
The memecoin in question is called Sunwukong and the Tron-based memecoin was created using the new Tron-based memecoin generator known as Sun Pump.
The transaction was picked up by Blockchain analytics firm Arkham Intelligence which shared the details of the transaction while congratulating the trader.
“Congratulations to trader TDm2 for turning $1K into $400K on SUNWUKONG TDm2 bought $999.9 of SUNWUKONG before it exited @sunpumpmemes 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.
SUNWUKONG is a memecoin based on the popular game “Black Myth: Wukong”. Arkham Intelligence tweeted.
What is Sunwukong ?
Sunwukong is a memecoin inspired by a character named Wukong from a newly released Chinese folklore-based video game Black Myth. The memecoin was created using Sun pump, a Tron-based memecoin generator set to rival Solana’s Pump. fun.
The game was launched on August 20 and has already amassed over 2.2 million players on Steam making it one of the most played games in the platforms record.
According to DexScreener data, Sunwukong’s memecoin surged from around $3,000 to as high as $17 million, a gain of over 566,500% in less than 12 hours.
However, the surge has cooled off slightly with the token dropping 1.6% from its all-time high.
At the time of writing this report, Sunwukong is exchanging hands for $0.0118 surging by 24.0% in the last 24 hours with a maximum price of $0.0119 and a minimum price of $0.00843.
The memecoin currently has a market capitalization of over $12 million at the time of the report.
Trader Yet to sell any token
The anonymous trader in question here has yet to sell any single token from his profits according to Tron scan data.
The memecoin generator used to create Sunwukong has already hit $1 million in revenue following its launch 12 days ago. The project aims to mirror the success of Pump fun launched by Solana which has generated $95 million in revenue since its launch in January.
What to Know
Memecoin trading while tending to be extremely lucrative can be very risky with double digits losses very prevalent among memecoin trades. Traders are advised to trade with money they can only afford to lose.
Nairametrics earlier reported on a Shiba Inu trader who turned $2,700 to $1.2 million trading on Shiba Inu over two years.