$1.69K to $20 Million in Just 6 Days – Meet the Trader Who Struck Gold with $SUNDOG
$1.69K to $20 Million in Just 6 Days – Meet the Trader Who Struck Gold with $SUNDOG
Author Joel Frank Author Joel Frank About Author Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology... Author Profile Share Copied Last updated: August 21, 2024 04:47 EDT
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A trader called TT4S5 just struck gold with $SUNDOG, an obscure meme coin that helped them turn a $1,690 initial investment into a huge bag worth $20.6 million.
As per an X post by Arkham, the trader transformed their modest initial investment into a multi-million dollar fortune in just six days.
This trader turned $1.69K of SUNDOG into $20 MILLION in 6 days
They currently hold $19.52M of SUNDOG across 7 addresses, and also sent $1.08M SUNDOG to exchanges – for a total profit of $20.60M. pic.twitter.com/ny9HW7qP8R — Arkham (@ArkhamIntel) August 20, 2024
The trader appeared to take $1.08 million of profits while holding onto the bulk of their bag across 7 wallets.
According to DEXTools, $SUNDOG’s market cap was last around $200 million. On Monday, it went as high as $324.4 million.
The meme coin is one of the first big movers of the rising meme craze on the Tron blockchain.
It is quite something for a trader to have bought that early and held on that long without taking profit as their unrealized gains ballooned.
Many traders might have already cashed out at 10x. And the vast majority would be out well before 100x.
Is there any surefire way for traders to emulate TT4S5’s success?
Sadly, no. Otherwise, everyone would be doing it.
Of course, they may have had some sort of strategy of investing super early in new meme coins.
Strategies like these, where traders take a scattergun approach, investing in hundreds of new coins might be profitable.
If that’s the strategy used by TT4S5, then it almost certainly was.
But there is no guarantee a meme coin will explode. The vast majority are scams or pump-and-dumps that never exceed a few million in market cap.
It’s thus a very risky approach to take.
Perhaps a better strategy to consider is meme coin presale investing.
12,189x gains are exceedingly unlikely. But 10x, or even 100x gains? Very plausible.
One new meme coin presale that analysts at Cryptonews.com are big fans of is called Base Dawgz (DAWGZ).
Cryptonews.com analyst Chester explains why Base Dawgz is a meme coin launch you can’t miss below.
Buy DAWGZ Here
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.