SUNDOG Token Price Flies

Bittime - In the world of cryptocurrency that is often considered to be like the "Wild West", there are stories that seem implausible and full of surprises. 

One of the latest headline-grabbing stories comes from the Tron network, revealed by on-chain data tracker Lookonchain on Friday, August 16. 

A trader with wallet ID “TEP7…T1da” managed to turn a small investment of $650 (5,000 $TRX) into a huge amount of $67,300 in just seven hours. Amazing, right?

SUNDOG Memecoin Fortune Story

This story involves a memecoin called SUNDOG, a token that may have started as a joke but has now become a serious money-making tool. 

Trader “TEP7…T1da” purchased 6.87 million $SUNDOG tokens with his 5,000 $TRX investment. Hours later, the trader sold 4.57 million of those tokens for 522,840 $TRX, which was worth $68,000 at the time. 

The result is an astounding 104x return on investment in just under one business day.

However, it doesn't stop there. The trader still holds 2.29 million $SUNDOG tokens, which are currently worth $76,000 at current prices. 

It's been such a dramatic journey that it's left many of us wondering, “What would I do?”

Read also: What is Sundog (SUNDOG) and what is its growth potential

A Lesson in Time, Risk, and Reward

Memecoins have been around for a long time, but they are gaining momentum on the Tron Network, which is known for its speed and low transaction fees. This environment is ideal for traders who want to take advantage of the rapid price fluctuations of these speculative assets. 

A trader's ability to buy at the right time and sell before the inevitable price drop shows a good understanding of market forces.

However, it is important to be aware of the risks behind this kind of trading. Memecoins like $SUNDOG are notorious for their volatility. They can soar quickly and violently, but they can also come down just as quickly. 

The fact that traders still hold 2.29 million tokens worth $76,000 in unrealized profits suggests a delicate balance between greed and caution. 

Therefore, knowing when to withdraw with your winnings is just as important as knowing when to enter and not get caught in a loss.

Considerations for Traders

For those inspired by this story, it is important to approach this kind of trading with extreme caution. The crypto market, especially the memecoin sector, is not a place for the faint of heart. 

Before “diving in” into a trade like this, consider setting clear goals. Know how much profit you are targeting and when you plan to cash it out. Greed is a powerful emotion but it can cause heartache if not controlled. 

Learn to manage your risk, only invest the amount you can afford to lose, not more. Don't let the fear of missing out (FOMO) influence your trading decisions. Stay alert and wise.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn How to Buy Crypto on Bittime.

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.