Justin Sun, Tron Founder, Plans Entry into the Memecoin Market as Dogecoin Competitor Takes a Hit
Tron founder Justin Sun has announced plans to trade memecoins and some “promising projects” through his public address, stating that all potential losses from such trades will be personally borne, while profits will be donated solely to charity. However, a blockchain tracker provider has warned that scammers are already sending worthless tokens to Sun’s address in an effort to con traders. Sun warns his 3.4 million Twitter followers that his investments are for fun and do not constitute financial advice. Due to the unexpected value of some memecoins, traders have increasingly started taking such coins seriously, with Pepe (PEPE), a meme-based crypto asset, enjoying a value increase of 5,551% from 0.00000007078 to an all-time high of 0.000004. The asset declined by more than 75% from this high but is still ranked 73rd by market cap.
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