An unknown crypto trader makes an astronomical gain by turning $1,200 into a whopping $10 million within three days trading a Tron-based memecoin.
Leading blockchain analytic platform Arkham Intelligence called attention to this success story today. According to Arkham Intelligence, the unknown user, who owns the wallet address TAMr…2Gpn, was among the first traders to invest in Tron Bull (BULL), a Tron-based memecoin.
Transaction Details
The user first purchased $780 worth of BULL tokens on the popular Tron-based memecoin trading platform SunPump. Then, when the token launched on SunSwap, the user acquired another $390 of BULL, bringing their total investment to nearly $1,200.
Interestingly, the value of the trader’s position in BULL skyrocketed to over $10 million within three days. At the time of Arkham Intelligence’s tweet, the value had decreased to $4.02 million, marking a decline of 59.8% from its peak amount. The trader’s position is currently valued at $4.3 million in the hours leading up to press time.
Crypto Community Thinks It’s an Insider
Expectedly, crypto community members took to the comment section to react to the jaw-dropping success story. While some people commended the development, others theorized that the trader is an insider.
Nonetheless, numerous reports have shown separate cases where investors successfully turned meager investments into millions of dollars. For instance, CoinGecko reported that a paltry investment of $12 in Shiba Inu (SHIB) skyrocketed to $1 million in 2021.
BULL Quiet Launch to Fame
For context, BULL is a Tron-based memecoin that launched quietly on August 22. The token remained largely unnoticed until August 25, when a popular influencer named Crash revealed their strategic buy-in in the asset.
um…. we might have found the #1 meme on Tron I think$BULL https://t.co/ekv0fX0jJ6 pic.twitter.com/OmuLeafggl
— Crash (@CrashiusClay69) August 25, 2024
This caught the attention of crypto enthusiasts as they hurried to get a slice of the BULL pie, leading to a surge in the asset’s price. In one day, BULL’s price spiked by a whopping 4,000%.
However, the asset has lost most of this gain, as it currently trades at $0.123 per token. This represents a decline of 17.73% in the daily charts.
It is ranked as the 2,714th biggest crypto, with a market cap of $123.38 million. There are 7,085 BULL holders at press time, with TAMR…2Gpn ranked as the largest holder, according to Tronscan data.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
