In another episode of crypto making people instant millionaires, a crypto trader cashed out $20 million after investing $1.69K into SUNDOG token after 6 days according to on-chain data.
This trader turned $1.69K of SUNDOG into $20 MILLION in 6 days
TT4S5 was one of the earliest SUNDOG buyers & purchased 104.33M tokens for $1.69K.
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 lucky trader, also known as TT4S5, was one of the many people who invested in SunDog in its early days. At that time, TT4S5 bought 104.33M tokens for $1.69K, which are spread across 7 wallets and are currently worth about $19.52M.
The Trader Takes Profit From Sundog
The trader had already withdrawn $1.08M through an exchange, bringing his total profits to $20.60M.
The SunDog token with a market cap of $242,996,196 has recently seen a surge in value. Some hours ago, the token recorded an all-time high of $0.269 but has dropped a bit and is currently selling at $0.2479 according to data on Coingecko.
Big Wins: Crypto Traders Who Struck Gold
The crypto space has recently experienced a mix of triumphs and tribulations, with some traders realizing substantial gains in a short timeframe, while others have suffered losses of equal magnitude.
This dichotomy underscores the pros and cons of the inherent volatility and unpredictability of the cryptocurrency market.
Some weeks back, a developer of the Solana-based meme coin, Neiro made $2.85 million after investing $550 into the token. The developer had initially used 3 $SOL ($552) to acquire 97.5 million $Neiro tokens.
Following a series of strategic sales, distributed across multiple wallets, the developer successfully converted 68 million tokens into 15,511 $SOL, worth about $2.85 million at that time, and realized a substantial profit of 15,508 $SOL ($2.85 million).
In addition, the developer transferred 10 million tokens to an inactive address, resulting in 19.5 million tokens, valued at around $1.8 million at that time, left as unrealized profits.
On another occasion, a group of five wallets, possibly linked to a single entity, sold 14.53 million WIF tokens and made about $24 million. The trader or group of traders had earlier bought the 14.53 million WIF tokens on November 30th, 2023, for just $5,340 and then made about $24 million after liquidation.
