Justin Sun, the man behind TRON, is no stranger to controversy, but this time, things have escalated to a whole new level. Justin is now being accused of manipulating the market with his latest meme coin, JustinDOG.
The coin’s market cap shot up from $2 million to a jaw-dropping $200 million in just a few days, thanks to Justin’s new platform, JustinPump.
This sudden rise has triggered a wildfire of speculation that Justin and his team are pulling the strings behind the scenes, making sure they’re the ones cashing in big time.
But this isn’t the first time Justin has been accused of shady tactics. The whispers in the crypto community are growing louder, with claims that Justin and a secretive team within TRON have been engaging in insider trading.
The play? Classic “pump-and-dump” schemes, where a crypto’s price is artificially inflated before those in the know dump their holdings at a profit, leaving regular investors holding the bag.
And let’s be real, Justin’s history in the crypto industry doesn’t exactly help his case.
Now the rumors also suggest that Justin might not be working alone. Apparently, he has partnered with Gotbit, a notorious market maker known for their aggressive tactics.
Word on the street is that Justin hired Gotbit to pump up the JustinPump platform, with JustinDOG being their first big hit. In no time, JustinDOG’s market cap soared to $250 million, a move that has only fueled suspicions of foul play.
There’s even talk that Gotbit might be behind the TRON meme trading NFD bot, which has attracted over 25,000 users a day.
If true, this partnership between Justin and Gotbit could be an attempt to drag the “degen” crowd—those wild, risk-taking traders—over to the TRON blockchain.
Makes you wonder if this is Justin’s latest play to steal the spotlight from other blockchains like Solana.
Some observers are pointing to the fact that while Ethereum (ETH) has taken some hits—dropping from $3,770 at the start of 2022 to $2,586 now—TRON has actually been on the up.
From $0.0759 in January 2022, TRON’s price dipped to $0.0452 at its lowest but has since climbed back to $0.166. That’s a 118% increase since the start of 2022. Crypto trader Awawat said:
“We often complain about teams dumping tokens on unlocks, but when a founder seems so intent on pumping his own coin after protecting the downside for two whole years, you gotta pay attention.”
Meanwhile, Justin told the world:
“TRON and crypto memes are just starting to pop off! I’ve got a strong feeling that a billion-dollar TRON memecoin is on the horizon, and I hope you’ll be a part of it. Let’s make moves!”
Some in the community are speculating that Justin is trying to create a TRON meme meta, similar to what Alameda Research did for Solana when SOL was dirt cheap at $5.
If true, this could be a move to redefine TRON’s place in the market, not just as a blockchain, but as the new playground for meme coins and degens alike.
