This Trader Made $7.9 Million With $295 Trading Memecoins on the Tron Network

As memecoin popularity continues to spread throughout the crypto market, more investors and traders are cashing out big, making millions of dollars by simply investing tiny amounts. The latest case is one of a trader who amassed wealth to the tune of $7.9 million by trading memecoins on the recently launched TRON memecoin ecosystem.

This revelation has sparked discussions across the crypto community as some members praise his trading strategy while others hope to replicate it. However, it is important to remember that cryptocurrencies, especially memecoins, are very volatile, and that one trader can turn hundreds into millions does not mean that it is always the case. Let us look at how this trader achieved this below.

Trader Earns Big on Memecoins

Tracer, a web3 developer and crypto trader made a thread on X (formerly Twitter) introducing his followers to the fortunate trader Alex, who turned a millionaire by investing $295 in memecoins. According to the post, Alex made over $1 million within a few days after the launch of the SunPump memecoin ecosystem. For context, SunPump is a memecoin launchpad based on the TRON ecosystem. It was created to launch and trade memecoins on the network.

Alex created the wallet address “TRtVRSEjvSFbVDuLpyzb1bHj3ctaR2zgCG” during the early stages of the memecoin buzz on the TRON network. The wallet address currently holds $1.15 million in funds and continues to grow daily due to profitable trades. Notably, the most successful trade by Alex was on the SUNDOG token. Recall that SUNDOG skyrocketed over 200x following its launch, which translated to massive gains for early investors.

Alex was one of those investors who made substantial gains from the project. Per the post, he invested $11,187 to purchase 6.29 million SUNDOG coins. After selling his first portion of the tokens, he made a staggering $190,230. Interestingly, the wallet still holds about $1 million worth of SUNDOG.

The second most profitable trade was with SUNCAT. Alex made an early-stage investment in the SUNCAT coin purchasing just $2,744 worth which has significantly multiplied. He succeded in cashing out $96,500, still holding about $128,000 worth of the coin.

Meanwhile, Alex did not only invest in TRON memecoins, but he also made mouthwatering gains from the trending Ethereum-based memecoin PEPE. According to Tracer, Alex saw a whopping 279x profit from trading the memecoin. Recall that PEPE’s value constantly broke new highs in May, creating significant profits for investors including this one.

It is also important to know that it was not entirely blissful. Alex also saw some unsuccessful trades but they were minimal compared to his gains and it was possible because he used “proper research and tools.”

Strategies for Successful Memecoin Trades

Tracer pointed out that Alex was able to conquer his memecoin trades because he focused on using specific strategies. He highlighted some of the important things to check before engaging in memecoin trades.

According to him, the first step is to check the number of token holders on tools like TRONSCAN. It is important to check that the top holders do not hold a massive portion of the token as if they do, you might be taken advantage of.

Secondly, it is important to check the social status of the project because social networking is an important aspect of their marketing process. Tools like Twitter Score will be useful for checking this metric. Lastly, potential investors should check for the presence of an official website for the project as that is usually the home to all relevant information relating to the project.

Tracer also stressed the importance of using snipper bots to identify memecoins very early. Ultimately, paying attention to these factors will enable you to spot a good memecoin and potentially make profits from trades.