Tron (TRX) founder Justin Sun said he plans to start trading memecoins.
Sun told his 3.4 million Twitter followers that he will trade memecoins and “promising projects” through his public address.
“Please note, I will personally bear all possible losses from these transactions and any profits made will be donated entirely to charity.
However, it is important to remember that my investments are not financial advice and there is no guarantee of listing these projects on any exchange, including Huobi Global and Poloniex. I simply trade for fun. Always do your own research before investing!”
Blockchain tracker Lookonchain warns that scammers will send “shitcoins” to Justin Sun’s public address in an attempt to trick gullible investors.
Memecoins have dominated the crypto news cycle in recent weeks due to the launch of Pepe ( PEPE ).
This meme exploded from trading around $0.0000007078 at the time of launch to an all-time high of $0.000004 on May 5, up over 5.551%.
However, PEPE is down more than 75% from that all-time high and is trading at $0.00001 at press time. This crypto asset is ranked 73rd, down almost 27% in the past 24 hours.