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Justin Sun invests $6 million in Shiba Inu

Justin Sun is active again. This time: with Shiba Inu (SHIB), the popular memecoin.

By Luc Vesters
• 1 min read
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.

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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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