2023-05-11 14:43:12
Tron Blockchain founder Justin Sun has revealed plans to join the memecoin frenzy in the crypto space. He announced that he will start trading different promising memecoins, and he will do so on his public address.. The tech and crypto entrepreneur is a household name in the crypto world and is also the founder of the Tron Blockchain and its native token, TRX.
Sun said that he has been exploring different memecoin projects lately and came to the conclusion that these cryptocurrencies have the potential to grow and become something big.
I’ve decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity.
— HE Justin Sun 孙宇晨 (@justinsuntron) May 11, 2023
On the other hand, he acknowledged that he could suffer various losses when trading such tokens. However, added that any profit made as a result of these tweets will go directly to charity.
CRYPTO COMMUNITY WATCHES SUN’S WALLET
Justin Sun’s recent announcement was a surprising development for crypto traders. However, all of Sun’s crypto holdings are visible to the public. He has around $828 million in different cryptocurrencies. Most of his portfolio is in stETH and USDD. Investors and traders are now keeping a close eye on potential Sun trades in the coming days.
Not really sure what to make of this message, but you can track Justin Sun’s wallet address on Arkham.
He still currently holds most of his portfolio in stETH and USDD, although he also holds numerous tokens of lower-cap projects.
Link below ???? pic.twitter.com/1NDNTcZpHX
— Arkham (@ArkhamIntel) May 11, 2023
Memecoins are often referred to as cryptocurrencies. «garbage», but they have repeatedly proven to reward traders and investors. Many coins, such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), have turned investors into millionaires overnight.
With recent developments, the prospect of a big crypto whale waiting to jump into the memecoin pool will continue to keep memecoins much more relevant in the market. Whether Justin Sun invests in the currently popular memecoin projects or finds some relatively unknown tokens remains to be seen. However, it is clear that your investments will influence the decisions of many investors around the world.
Justin Sun also said:
“However, it is crucial to remember that my investments do not constitute financial advice, and there is no guarantee to list these projects on any exchange, including @HuobiGlobal and @Poloniex. I’m just trading coins for fun. Always do your own research before investing!”
A JUSTIN SUN ELON MUSK-TYPE MOVEMENT
It has been observed in recent years that a particular memecoin is often associated with an influential individual or even a community. For example, Dogecoin has always had the support of Elon Musk, who greatly influenced its position in the market.
Taking this into account, Sun’s latest move could also be a marketing ploy. You can get more attention from the crypto community and use it for different promotional campaigns, even for your own project. However, how this operation will play out for Sun in the long term remains to be seen, but it has certainly kept the memecoin excitement alive.
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