Rock

Dogecoin

ROCK

Dragon

<p class="is-style-lead">Rock, a new meme coin on the SunPump ecosystem, was one of the top-performing cryptocurrencies, driven by speculation that Justin Sun had invested in it.</p>
<p>ROCK (<a href="https://crypto.news/price/rock/" rel="noopener noreferrer nofollow">ROCK</a>) token surged nearly 100%, reaching a high of $0.003375, which gave it a market cap of over $3.3 million.</p>
<p>The token’s spike followed a social media post suggesting that Sun, the founder of Tron (<a href="https://crypto.news/price/tron/" target="_blank" rel="noopener noreferrer nofollow">TRX</a>), had invested in the meme coin. The official X account of Rock reposted the speculation, although Sun has not yet confirmed this.</p>
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   <p lang="en" dir="ltr">You telling me Justin Sun holds <a href="https://twitter.com/search?q=%24ROCK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ROCK</a> and you still didn’t sent this to $10M?<br><br>You’re still early to TRON.<br><br>You’re still early to generational wealth.<br><br>You’re still early to <a href="https://twitter.com/search?q=%24ROCK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ROCK</a>.<br><br>Buy now or cry later! 🚀🪨☀️ <a href="https://t.co/O037ZlNMwc" target="_blank" rel="noopener noreferrer nofollow">https://t.co/O037ZlNMwc</a></p>— Mr. BIG WHALE (@MrBigWhaleREAL) <a href="https://twitter.com/MrBigWhaleREAL/status/1828776723279954274?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 28, 2024</a>
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<p>A confirmation of Sun’s investment would be significant due to his influence in the crypto industry.</p>
<p>In addition to starting Tron, Sun also acquired BitTorrent (<a href="https://crypto.news/price/bittorrent/" target="_blank" rel="noopener noreferrer nofollow">BTT</a>) in 2018 and serves as a senior advisor for HTX, formerly known as Huobi. He also launched USDD, a stablecoin with over $700 million in assets. According to <a href="https://platform.arkhamintelligence.com/explorer/entity/justin-sun" target="_blank" rel="noopener noreferrer nofollow">Arkham</a>, Sun’s crypto portfolio is valued at over $1 billion.</p>
<p>Rock, which <a href="https://tronrock.meme/" target="_blank" rel="noopener noreferrer nofollow">describes itself</a> as “nothing but a useless meme coin,” is one of the top tokens vying for attention in the crypto industry. It is different from Rock, another Ethereum meme coin whose <a href="https://www.coingecko.com/en/coins/rock-4" target="_blank" rel="noopener noreferrer nofollow">price was down</a> by 20%.</p>
<p>Some of the other big tokens in the <a href="https://crypto.news/sunpump-market-cap-reaches-268m-as-sundog-fofar-suncat-tumble/" target="_blank" rel="noopener noreferrer nofollow">SunPump ecosystem</a> are Sundog (<a href="https://crypto.news/price/sundog/" target="_blank" rel="noopener noreferrer nofollow">SUNDOG</a>), with a market cap of $247 million and Dragon Sun, with a valuation if $28 million. Collectively, SunPump tokens have accumulated over $366 million in value.</p>
<p>You might also like: <a href="https://crypto.news/sun-token-pump-gains-speed-but-a-reversal-might-be-near/" rel="noopener noreferrer nofollow"> Sun Token pump gains speed but a reversal might be near </a></p>
<p>Additionally, SunPump trading activity has generated over <a href="https://defillama.com/protocol/sunpump#information" target="_blank" rel="noopener noreferrer nofollow">$30 million</a> in fees, less than two weeks after launch. As a result, Sun confirmed that SUN community would vote for the first revenue burn.</p>
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   <p lang="en" dir="ltr">Due to the higher-than-expected revenue from <a href="https://twitter.com/sunpumpmeme?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@sunpumpmeme</a> , the SUN community plans to advance the first SUN revenue burn. Details to be announced! TO THE SUN🌞</p>— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1828491551246565843?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 27, 2024</a>
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<p>Still, judging by the past performance of meme coins, investing in Rock is a high-risk and high-reward activity. In most periods, meme coins surge in their initial days and then retreat when the momentum fades.</p>
<p>For instance, Dogecoin (<a href="https://crypto.news/price/dogecoin/" rel="noopener noreferrer nofollow">DOGE</a>) soared to $0.7587 after Elon Musk’s endorsement in 2021 but has since dropped by over 87% to $0.098. Shiba Inu (<a href="https://crypto.news/price/shiba-inu/" rel="noopener noreferrer nofollow">SHIB</a>) also saw a peak at $0.000089, followed by an 85% decline.</p>
<p>Similarly, recently launched meme coins like Dogwifhat, Popcat, and Book of Meme saw initial gains but have since retreated by double digits.</p>
<p>You might also like: <a href="https://crypto.news/sundog-token-surges-but-history-hints-at-limited-gains-ahead/" rel="noopener noreferrer nofollow"> Sundog token surges, but history hints at limited gains ahead </a></p>

Rock meme coin rockets on Justin Sun speculation

crypto.news

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