According to BlockBeats, on August 16, Lookonchain monitoring revealed that the address TEP7...T1da made significant profits through transactions involving the cryptocurrency SUNDOG. Earlier today, the address spent 5,000 TRX (approximately $650) to purchase 6.87 million SUNDOG tokens. Subsequently, it sold 4.57 million SUNDOG tokens for 522,840 TRX (around $68,000), achieving a profit of 517,840 TRX (about $67,300) within just seven hours, marking a 104-fold return on investment.
The address still holds 2.29 million SUNDOG tokens, which translates to an unrealized profit of $76,000. BlockBeats notes that meme coins like SUNDOG are highly volatile and lack intrinsic value, urging users to exercise caution when engaging in such investments.