Whale Address Continues to Dump SUN, Sparking Concern Among Investors
A large whale address, which previously offloaded significant amounts of SUN, has sold another $1 million worth of the token within the past two hours.
A large whale address, known for its previous sales of significant amounts of SUN, has recently sold another $1 million worth of the token over the past two hours.
This latest sale caused a nearly 3% decrease in the price of SUN, bringing it down to $0.02461.
The address, which has been linked to major sales in the past, continues to influence the market, sparking concern among investors.
However, it’s important to note that this address has been the subject of speculation, with some suggesting that it belongs to Justin Sun, the founder of the TRON network.
Sun himself has clarified that this wallet does not belong to him.
Despite this clarification, the whale's previous sales have had a significant impact on SUN’s price.
Since the last time this address sold SUN, the token has plunged 32%, dropping from $0.03633 to the current level of $0.02461.
Same Address Sold Off $1.18 Million Worth Of SUN
On August 25, the same address sold $1.18 million worth of SUN on the blockchain, as reported by cryptoSlate.
The following day, another $1.68 million worth of tokens were sold from the same wallet.
These heavy sales have applied downward pressure on the token, reflecting the market’s sensitivity to large movements by whale addresses.
As traders watch closely for any future moves by this address, the massive sell-off has sparked a wave of uncertainty among SUN investors.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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