Tron Meme Coins Already Witnessing Epic Gains, Bullish Data Emerges

by

As a seasoned researcher who has witnessed the crypto landscape evolve from the early days of Bitcoin, I must admit that the recent surge in Tron meme coins has caught my attention. Having closely monitored the meteoric rise of Shiba Inu and PEPE, I can’t help but feel a sense of deja vu when observing the astronomical gains some traders are making on the Tron Network.

The Tron Network has shifted strategically into the realm of meme coins, and so far, it’s showing promising results. Preliminary data from cryptocurrency analysis firm Lookonchain indicates that some savvy traders are already raking in profits by dealing with meme coins on the Tron platform.

Tron meme coin growth push

According to transactions on Tron Scan, some savvy traders have amassed 100x returns by trading meme tokens within the protocol. For instance, trader “TEP7…T1da” invested 5,000 TRX ($650) in purchasing approximately 6.87 million SUNDOG tokens. After waiting around seven hours, the trader then sold 4.57 million of these tokens for 522,840TRX or roughly $68,000.

This single trade comes with a 517,840 TRX gain worth more than $67,300, a gain of 104x. This kind of growth is not uncommon in the meme coin world and was recorded in the early days of Shiba Inu and PEPE. This Tron whale held back some of the funds for sale later.

As someone who has been trading cryptocurrencies for a few years now, I must admit that I have witnessed some truly remarkable gains made by traders on various platforms. However, the recent success stories of traders making 100x returns on #MEMEcoins traded on the #TronNetwork have left me quite intrigued and inspired.

— Lookonchain (@lookonchain) August 16, 2024

At present, the whale possesses around 2.29 million SUNDOG tokens, which currently equate to about $76,000 in potential profits yet to be realized. This transaction could draw a large number of meme coin farmers into the Tron network, possibly igniting an unprecedented wave of FOMO – Fear of Missing Out on these tokens.

L1 competition

For quite some time, Tron has been observing from the sidelines as protocols such as Ethereum and Solana flourish. However, things began to shift when Justin Sun ventured into other areas beyond stablecoins and transactions.

Currently, Tron is outperforming Ethereum in significant aspects like on-chain transaction volume. If this trend continues, the popularity of the Tron meme coin is similar to that of Solana. Although these assets are still growing, investors are eagerly waiting to see which Tron meme coin will reach a market cap of $10 million soon.

In the future, it’s widely expected that people will be able to acquire the cryptocurrencies similar to Shiba Inu and BONK using the TRON blockchain network.

Read More

2024-08-16 13:01