Trader Turns $1,000 Into $750,000 Overnight With Crypto Billionaire Avatar
Date: 2024-08-23 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
An unknown trader going by the pseudonym TDm2 purchased less than $1,000 in $SUNWUKONG in the early hours of August 19. The token is a new TRON-based memecoin dedicated to Sun Wukong, the main character in the recently released video game Black Myth: Wukong.
Yesterday, TRON founder Justin Sun changed his avatar to an image of Sun Wukong, causing the memecoin to skyrocket in value.
TDm2 holdings soared above $400,000 and peaked at $750,000, representing an unrealized gain of 750 times the initial investment.
However, the anonymous investor has not yet sold his holdings and currently holds around $526,109.98, according to blockchain data.
According to DEXScreener, Sun Wukong’s market cap is currently at $9.5 million with a 24-hour trading volume of $14.3 million.
The latest trading chart points to a possible price recovery to $0.016, but it is currently showing early signs of a bear flag, indicating the possibility of a sudden drop below the previous support level of $0.0095.
Demand for the Sun Wukong memecoin may be limited by news about the video game or Justin Sun’s statements.
However, this is just a drop in the bucket compared to the established memecoin sector with a market cap of $40 billion.
For those looking for a gold rush like the early days of memecoins, it is better to pay attention to some presales that are raising millions not only because of the memes but also because of their utility function.
One such project is Crypto All-Stars, represented by the $STARS token, which offers a single staking platform for memecoin fans.
Crypto-All Stars is a revolutionary staking platform that brings together the most popular memecoins in one place.
Holders of Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin can stake them on the platform and earn passive income in the form of $STARS with a current yield of 2.336%.
The team has allocated 20% of the tokens for the presale. Another 25% is for presale staking, 20% for marketing, 10% for CEX/DEX listing, and the remaining 25% will go towards the development of the MemeVault ecosystem.
This new memecoin project has become so popular that its presale has already raised $638,450 since its launch last week.
