TRON founder Justin Sun seems to have lately bought $75 million value of TRUMP meme coin, sending shockwaves throughout the broader trade. According to crypto market knowledgeable Unusual Whales on X, the large buy occurred, inflicting a ripple impact surrounding Sun’s civil fraud lawsuit with the SEC. Simultaneously, with one other whale transaction occurring amid a 20% value crash within the meme coin, market watchers are extensively monitoring the token.
Is Crypto Mogul Justin Sun Really Buying TRUMP?
According to ‘Unusual Whales’ post on March 4, the TRON founder purchased $75 million of the TRUMP coin. Soon after this accumulation, Justin Sun’s civil fraud lawsuit towards the US SEC was halted, per the X publish.
However, CoinGape discovered through a CNN report that the $75 million funding was used to purchase Trump family-backed World Liberty tokens. Overall, the larger image, whereby regulatory hurdles for the crypto mogul eased amid investments in U.S. president-backed merchandise has birthed market conjectures globally.
Massive Whale Transaction Sparks Market Concerns
Simultaneously, a crypto whale was recorded offloading a whopping $61 million value of TRUMP meme coin, including to speculations amid Justin Sun’s saga. Whale Alert information on X revealed that the unknown handle BdnDGU shifted 5 million tokens to Binance amid an ongoing market hunch.
Notably, the crypto market faces immense heat resulting from large liquidations totaling over $1 billion. Bitcoin misplaced practically 10%, with altcoins additionally dropping alarming values over the day.
The U.S. President-themed meme coin additionally noticed a slumping motion in step with the broader development. This waning motion might have urged the whale to panic promote, mitigating losses.
TRUMP Crypto Price Action
As of press time, TRUMP value witnessed a 20% crash and exchanged arms at $12.26. The PolitiFi & leading meme coin bottomed and peaked at $11.83 and $15.67 up to now 24 hours. As talked about above, this waning motion mirrors the present broader market development.
However, famend crypto investor ‘The Wolf Of All Streets’ took to X, sparking optimism in mild of ‘Unusual Whales’ Justin Sun’s token buy saga. “I guess the $TRUMP token does have real utility,” the dealer acknowledged, reverberating blended investor sentiments concerning the asset amid broader developments.
Coingape Staff
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