TRX founder Justin Sun announced on Twitter that he will be actively starting meme coin trading and promising projects.
TRX Founder Justin Sun Announces He Will Buy Memecoin
Sun stated that possible losses that may arise from these transactions will be covered by him and the profits will be donated entirely to charities.
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.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 11, 2023
However, Sun made it clear that its investments do not constitute financial advice and there is no guarantee that these projects will be listed on any exchange, including HuobiGlobal and Poloniex.
Sun emphasized the importance of always doing your own research before investing and reminded investors that he only trades coins for fun.
Sun's statement reflects the growing trend of individuals entering the cryptocurrency market, including meme coin and token trading associated with social media trends.
Meme coins have gained popularity recently, largely due to the growing interest in social media-driven trends like Dogecoin and Shiba Inu tokens.
These tokens are often created as a joke or in response to a viral meme or social media trend, but have gained considerable value and a large following.
While meme coins are fun and potentially profitable to trade, it is important to remember that they also involve high volatility and risk.
Sun's message reminds us that such investments should be approached with caution and always thoroughly researched before making any investment decision.
Overall, Sun's statement highlights the importance of being responsible and knowledgeable when entering the cryptocurrency market, whether for fun or profit.
It is essential that you do your own research, understand the risks involved, and only invest as much as you can afford to lose.
*Not investment advice.