Justin Sun Is Also Joining the Excitement Wave Of Memecoin

Key Points:

  • Justin Sun said he would begin trading memecoins and promising ventures through his public wallet address.
  • Sun’s wallet will now be actively monitored by cryptocurrency traders and experts for indications of movement.
Justin Sun, the founder of TRON, has spoken out about the recent return of the memecoins wave, causing the trading volume and emerging coins like PEPE and LADYS to create hype.
Justin Sun Is Also Joining the Excitement Wave of Memecoin

Sun also said that from now on, he would actively participate in trading memecoins through a public address. The profits he makes will be donated to charity.

Furthermore, both Gate.io and Huobi have announced that they will list the memecoin LADYS of Milady. Trade on Gate.io will begin on May 11 at 9 a.m. UTC, while Huobi said that LADYS/USDT spot trading would begin when deposit volume reaches market demand.

DWF Labs announced earlier today that it would transfer 600 billion LADYS to the Huobi wallet for market-making purposes.

No Meme Token, created in wake of a tweet by Elon Musk on Wednesday that featured a picture of a Milady Maker NFT and a caption saying “there is no meme,” saw an explosive start to life.

It is safe to say that the meme coin craze was not welcomed in the Bitcoin (BTC) community. To be more specific, the unprecedented trading activity in PEPE and other meme-inspired coins was one of the factors driving Bitcoin transaction fees to a new record high.

While there are no indications that Sun has started investing in meme coins or new projects using his wallet just yet, the tantalizing prospect that one of crypto’s largest whales is waiting on the sidelines could well keep the ongoing meme coin craze of the last few weeks alive.

New wave meme coins like Pepe coin have seen explosive gains in recent weeks, pushing network fees on blockchains like Ethereum to sky highs levels.

PEPE, a meme coin inspired by the popular internet meme “Pepe the Frog,” was launched in April. Over the past few weeks, PEPE saw a meteoric rise of a whopping 5,000,000%. It is now the third-biggest meme coin by market cap, trailing DOGE and SHIB.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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