The post How a $1K Bet on Tron’s SunWukong Memecoin Turned into $750K appeared first on Coinpedia Fintech News
In the fast-changing world of digital currency trading, where fortunes can quickly rise and fall, one trade stands out. An anonymous trader saw their investment in Sun Wukong, a new memecoin on the Tron blockchain, soar to a peak value of $750,000, showcasing patience and potential foresight.
Big Bet: $1,000 into $750K
The trade begins with a purchase made by this trader, who acquired 43.8 million SunWukong tokens for just under $1,000. On August 21, blockchain data platform Arkham Intelligence brought this to light, just as the value of SunWukong began to soar.
The surge was sparked by Justin Sun’s decision to change his profile picture on X (formerly Twitter) to Sun Wukong, a character from the newly released game Black Myth: Wukong. The game’s immediate success, amassing over 2.2 million concurrent users on Steam within its first 24 hours, coincided with the explosive growth of the memecoin.
566,500% Gains in 12 Hours
In just under 12 hours, the token’s value skyrocketed from around $3,000 to a staggering $17 million, marking an extraordinary gain of over 566,500%. At the peak of this surge, the trader’s holdings were valued at $750,000.
Yet, despite this incredible opportunity to cash in, the trader has chosen not to sell a single token. With the price of SunWukong now down 58% from its all-time high, their current holdings are worth approximately $329,000.
This remarkable rise of SunWukong reflects the broader growth of Tron’s memecoin ecosystem, particularly with the introduction of Sun Pump.