TRON (TRX) inventor Justin Sun tweeted that he had decided to announce “new actively trading meme-coins and promising projects” through his public address, as the “meme-coin season” dominates the global cryptocurrency market.
Justin Sun further stated in a tweet, I will personally shoulder any potential losses from these transactions, and any gains generated will be completely donated to charity.
Even though meme coins are sometimes referred to as trash coins, traders and investors have consistently benefited from them. Numerous currencies, including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), have made investors instant millionaires.
Recently launched meme tokens and surprise price spikes have drawn some cryptocurrency investors to the market. The Pepe (PEPE) currency, which increased by more than 5000% in a matter of days, is the starting point of the new meme coins that are constantly being traded on Crypto Twitter.
The advisor to Huobi cautioned that his investments did not amount to financial advice. Additionally, Justin Sun issued a warning that there is no assurance that this project will be listed on any exchanges, including Huobi Global and Polaniex.
The aggressive marketing strategies and regular social media presence of Justin Sun have earned him a reputation. The crypto community responds to that with both praise and condemnation.
Sun’s cryptocurrency holdings are all open to the general public. He has a total of eighty-two million dollars in cryptocurrency. The majority of his holdings are in USD and stETH. Investors and traders are now closely monitoring any prospective moves that Sun may make in the upcoming days.
Sun served as the primary representative at Ripple Labs before launching Tron. and consultant for the region of Greater China. Additionally, prominent meme-coin FLOKI praised the TRON founder’s move and added a tweet about it.
Over the last several years, it has been noted that a specific meme currency is frequently connected to a powerful person or perhaps a group of people. For instance, Dogecoin has always benefited from Elon Musk’s support, which has had a significant impact on its market position.
Sun’s most recent action may potentially be a marketing ploy, considering this. To use it for various marketing initiatives, including those for his product, he may garner more attention from the crypto community. It remains to be seen, though, how Sun’s time in this position will turn out in the long run, but it has undoubtedly maintained the enthusiasm around the meme coin.
An individual from the crypto community issued a warning, speculating that this action may be intended to induce an average trader to purchase tokens out of fear of missing out.