Trader misses out on $2m SUNDOG profit
crypto.news + 2 more 26 August 2024 20:36, UTC The recent surge in Sundog token’s price has left one trader likely regretting their decision to sell too soon.
According to blockchain security and intelligence platform Arkham, the trader initially invested $65 in SUNDOG (SUNDOG) as the meme coin launched on the SunPump platform. However, just 20 minutes into the token’s market debut, the trader sold their holdings for a profit of $495.
In a post on X on Aug. 26, Arkham discussed the missed opportunity, notin how a $65 investment turned into $495 profit within 20 minutes. But, it could have grown to a $2 million profit if held for several days.
Imagine being this guy
Trader TDi bought $65 of SUNDOG as it launched on SunPump – and flipped it in 20 minutes for a $495 profit.
If he held for 4 days, his SUNDOG would’ve been worth $2 Million. pic.twitter.com/Cr6ayHo3ky
— Arkham (@ArkhamIntel) August 26, 2024
Sundog token soared
Sundog’s price was around $0.043 on Aug. 18 but surged amid the hype surrounding SunPump and TRON (TRX), reaching an all-time high of $0.3511 on Aug. 26.
While profit taking has trimmed some of the gains, SUNDOG remains more than 180% up this past week and nearly 350% up over the past month.
Currently, Sundog has a 24-hour volume of over $75 million, which is up 33%. Meanwhile, its market cap stands at over $290 million to see SUNDOG rank as the 210th largest cryptocurrency at the time of writing.
SunPump buzz
TRON-based Sundog and other meme coin may soar further amid the buzz that surrounds SunPump.
The Pump.fun competitor quickly generated more than $1 million in revenue as the Tron community embraced the meme coin craze. Network activity on Tron has also spiked as a result, impacting revenue.
