A proficient trader going by TAMr has effectively managed to turn an investment of nearly $1,170 into a massive $10M in 3 days. Arkham, a blockchain analysis platform, disclosed that the trader made the significant achievement of generating huge profit from a small amount due to the volatility of the crypto sector, particularly with the memecoin “TRON BULL.” The platform took to its official social media account to provide the details of this development.
This trader turned $1.2K into $10 MILLION in 3 daysTAMr was one of the first to buy TRON BULL, purchasing $780 on Sunpump. He purchased another $390 of TRON BULL once it reached Sunswap.Within 3 days, his BULL position hit a peak of over $10 MILLION – and now has bled down to… pic.twitter.com/U7u7hq47Nw
— Arkham (@ArkhamIntel) August 30, 2024
Memecoin Trader Buys TRON BULL to Make $10M from Just $1.2K in Profits, Resulting in a Slump
In a new X post, Arkham noted that TRON BULL operates as a leveraged token. It reportedly boosts the underlying TRON token’s price movements. The journey of TAMr started with a buyout of TRON BULL with a value of $780 on a platform named Sunpump. Sunpump is a memecoin launchpad that often lets the early adopters capitalize on the latest trends.
The trader reportedly sensed the potential for more gains and made another investment of nearly $390. This took place when the token was witnessing its listing on another decentralized exchange Sunswap. The strategic timing as well as the strong insight into the dynamics of the market assisted the trader to a great extent. In this way, the trader effectively entered the initial phases of what turned into an enormous price spike.
The Trader Still Enjoys an Outstanding Return over the Initial Investment, Despite the Decline
During the next 3 days, the value of TRON BULL went through substantial spikes. This propelled the cumulative investment of TAMr to a top spot of more than $10M. Nonetheless, TRON BULL and other such leveraged tokens also signify that the respective profits can be momentary. Following touching the peak, the position of TAMr started dropping, reaching approximately $4.02M. Nonetheless, it still shows an outstanding return on the trader’s initial investment.
