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- Justin Solar has debunked rumors linking him with an ongoing SUN token selloff.
- SUN declined 35% this week after making a major rally within the earlier week.
- Solar’s assertion has boosted SUN worth by over 16% up to now few hours.
Tron founder Justin Solar has debunked rumors linking him with an ongoing SUN token sell-off. He took to X (previously Twitter) to launch a strong-worded denial, even difficult these spreading the rumors to promote their SUN holdings to him.
Solar’s preliminary submit, probably concentrating on the English-speaking X group, used sturdy language. He adopted up with a calmer message in Chinese language, clarifying that neither he nor SUN DAO had bought any SUN tokens. The circulated handle, he stated, wasn’t related to the official mission.
SUN declined by 35% this week after making one of the important one-week rallies of its lifetime. The Tron-based DeFi token surged practically 350% the previous week earlier than the current decline. TradingView’s knowledge exhibits the altcoin fell from $0.04479 to $0.02879 this week.
Within the meantime, following Solar’s sell-off denial, SUN seems to have rediscovered its upside momentum. The DeFi token, which opened immediately’s buying and selling session at $0.030259, has surged over 16%, rallying to $0.035179 on the time of writing, in line with knowledge from TradingView. Therefore, Solar’s sell-off denial seems to counter the impact of the alleged FUD marketing campaign by these propagating the SUN sell-off rumor.
It’s value noting that SUN launched over 4 years in the past, with the unique plan to imitate Bitcoin as a retailer of worth. Nevertheless, the token shifted its focus after the 2021 crypto market crash, repurposing it as a DeFi token on the Tron community. SUN has a market capitalization of over $364 million, with over 9.95 billion of its over 19.9 billion tokens in circulation, in line with knowledge from CoinmarketCap.
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