Justin Sun Moves $430,000 In SHIB To Poloniex

IconCryptoNewsTerminal Staff30 May, 2024

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Justin Sun Moves $430,000 In SHIB To Poloniex

Justin Sun, the founder of Tron (TRX), recently transferred 16.5 billion SHIB, worth approximately $430,000, to a Poloniex multi-sig address. This transaction was highlighted by on-chain analyst AI (@ai_9684xtpa) on Twitter, who noted that Sun now holds a total of 455.6 billion SHIB, valued at around $11.94 million. This latest move by Sun suggests that he remains bullish on the potential of SHIB, despite the recent market downturn. SHIB has seen significant price volatility in recent months, but it has managed to maintain a strong community following. Sun's decision to increase his SHIB holdings could be seen as a sign of confidence in the project's long-term prospects. It is worth noting that Sun has been a vocal supporter of SHIB in the past. In May 2021, he announced that he had purchased $100,000 worth of SHIB and pledged to hold it for the long term. Sun's continued support for SHIB is likely to be welcomed by the project's community, which is hoping to see the token achieve widespread adoption.

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