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News - Justin Sun invests $6 million in Shiba Inu
Justin Sun is active again. This time: with Shiba Inu (SHIB), the popular memecoin. Within two days, the crypto tycoon transferred about 600 billion tokens worth USD 6 million from Binance to his own wallet. This reports DailyCoin.
The community speculates on the reason for this. Shiba Inu influencer Vet Kusama lists two possible reasons: Justin Sun might be burping the SHIB. Or he is using it to mainnet, Shibarium, to support.
Dear @justinsuntron , today we noticed that you transferred approximately 500 billion #shib to your Justin Sun4 wallet. And this transfer took place for the first time (there has never been a shib transfer in your wallet before).
— Vet KUSAMA ™ (@vetkusama) December 18, 2023
There are two possibilities:
1-) Shib burn
2-)… pic.twitter.com/O4JiLgcaUs
With a market capitalization of more than USD 6 billion, SHIB is the second most valuable memecoin after Dogecoin. In the past 30 days, the cryptocurrency has risen about 25 percent. The price is currently USD 0.00001042 per token. Justin Sun is the founder of Tron (TRX), one of the most valuable and controversial blockchains in the world, and is considered the "enfant terrible" of the crypto sector.
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