Justin Sun Holds $51M in PEPE: What Other Memecoins Could End Up in His Portfolio?

Arkham Intelligence reported on October 27 that wallets linked to TRON founder Justin Sun controlled 2.82% of PEPE’s total supply, making him PEPE’s largest identified individual holder.

The accumulation occurred over the last 10 days, leading to Sun holding almost 3% of the PEPE supply, valued at $51.25M across his official and predicted wallets.

This position resulted from two withdrawals from Poloniex. On October 17, approximately 7.2 trillion PEPE tokens, equaling $28.44 million, moved into a Sun-linked wallet. A subsequent transfer on October 26 involved another 4.65 trillion tokens, worth $20.32 million.

Before these transfers, Sun’s attributed PEPE holdings were 68 billion tokens, valued at $267,000. The two withdrawals increased his position to around 11.85 trillion PEPE tokens.

Arkham found that $77 million in stablecoin movements from Sun-linked wallets to Poloniex coincided with these transactions.

Sun’s overall net worth is estimated by Arkham to be between $5 billion and $7 billion, incorporating crypto holdings and stakes in HTX and Poloniex.

His interest in memecoins began several years ago; on May 11, 2023, he announced, "I've decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity."

Historical reports showed his exposure to SHIB, FLOKI, BabyDoge, and SPONGE, with a December 2023 snapshot indicating $6.2 million in SHIB, $805,000 in FLOKI, and $524,000 in BabyDoge.

Bitcoin Hyper (HYPER) is preparing a Bitcoin-focused Layer 2 network using Solana Virtual Machine technology, featuring a Bitcoin bridge, wallet, staking, and decentralized finance applications.

Bitcoin Hyper has raised over $33.2 million in presales and offers a 35% staking reward for participants.

Sun's recent PEPE accumulation mirrors the interest shown in emerging crypto launches like Bitcoin Hyper.

As of the report, PEPE has a market capitalization of $1.81 billion, with Binance holding $337.5 million (18.7% of supply) and Robinhood holding $150.9 million (8.37%).