An anonymous trader has made headlines by transforming an initial investment of $1,000 into as much as $750,000 through trading the new Tron-based memecoin, Sun Wukong, when the token traded at its peak in the rally. This extraordinary gain reflects the volatile and speculative nature of the meme coin market, driven largely by social media trends and market sentiment.
Sun Wukong’s Social Media Surge
On August 21, blockchain data platform Arkham Intelligence revealed that the trader bought 43.8 million SUNWUKONG tokens for just $997. The dramatic price surge of Sun Wukong occurred following Tron founder Justin Sun’s high-profile move.
Sun changed his profile picture on X to Sun Wukong, a character from the recently launched video game “Black Myth: Wukong.” This game, which debuted on August 20, saw unprecedented success, topping over 2.2 million concurrent users on Steam within its first 24 hours, establishing it as one of the most popular single-player game launches in history.
WUKONG’s Surge and Subsequent Decline
The timing of Sun’s profile update was crucial. It caused Sun Wukong to soar from approximately $3,000 to a peak of $17 million, marking an extraordinary increase of over 566,500% in less than 12 hours. As of press time, the meme coin is trading at $0.005897 as at press time.
TRON Breaks Record: 7.99M Transactions in a Single DayDespite this impressive gain, the trader has yet to sell Sun Wukong tokens. According to TronScan data at the time of publishing, traders are holding a total value of $16,254.97 in Sun Wukong tokens.
This meme coin frenzy coincides with a broader trend in the Tron network, where the SunPump protocol has also seen significant growth. Launched on August 10, SunPump, named after Justin Sun, is a memecoin deployer similar to the Solana-based pump.fun. Within just 12 days, SunPump has generated over $1 million in revenue, highlighting a surge in meme coin activity.
