Justin Sun, the founder of TRON, who is known as the harvester of the crypto market, posted a tweet at around 10 am. The general content is as follows:

Very excited to announce, I bought that banana!!!

I’m Justin Sun, and I’m happy to tell you that I successfully bid for Maurizio Cattelan’s iconic artwork (Comedian) for $6.2 million. This is not only a work of art, but also a cultural phenomenon that connects the art, meme, and crypto communities. I believe it will inspire more thinking and discussion and become part of history. I am honored to be the owner of this banana, and I look forward to it bringing more inspiration and influence to art lovers around the world.

At the same time, someone also released a "banana" on the pump platform of the trx chain, and the question is, does Justin Sun want to push the banana on the current sol chain or the banana on this trx chain?

What is a ban?

Comedian is a meme coin themed Walking Towards a Banana, with the narrative of Maurizio Cattelan’s (The Comedian) coming to Sotheby’s this November!

Tags: MEME

Founded: 2024

Heat value change trend:

ban experienced two-level reversal

Before Brother Sun bought Banana for 6.2 million U.S. dollars, that is, before 9:16, Ban was frantically pushing up the market, and many retail investors shouted: Brother Sun is awesome! But after 9:16, Ban was frantically dumping the market, and retail investors said: Brother Sun is still the same Brother Sun!

It turned out that just after Justin Sun bought the banana, the market showed that BAN fell below 0.17 USDT and is now reported at 0.163 USDT, with a 24-hour drop of 31.87%.

According to GMGN data, the Meme coin Ban, which has the Cattelan banana as its background and is listed on Binance contracts, rose by about 20% in five minutes, and its market value exceeded US$230 million in the short term. However, perhaps affected by the overall price correction of the Meme sector, Ban has now fallen back to US$175 million, with a drop of 32.23% in the past 24 hours.

This reminds many people of Musk. Also regarding the banana incident, Elon Musk retweeted a photo posted by Polaris' content director on X showing a large Banana figurine and a SpaceX starship in the same frame, and responded with a "laughing and crying" emoji. Perhaps affected by this, Ban rose by nearly 20% in a short period of time.

Such a big drop in the ban is just because of Justin Sun?

The good news about ban is that it was auctioned for $6.2 million. The bad news is that Justin Sun won the bid. Is it going to continue to fall?

$ban Many people cleared their positions with one click after the auction, but the retracement is still controlled at 1/3 and is currently hovering around 170 million. The drop from 40m+ to below 6m shows that big investors and whales are not optimistic about this project, and low-level investors have been selling.

Many people will think of dexx. According to the GMGN market data on the 16th, due to the theft of DEXX, memes such as BAN, LUCE, and PNUT have fallen to varying degrees, including:

BAN has fallen by about 30% since the incident

LUCE has fallen by about 20% since the incident

PNUT has fallen by as much as 12.5% ​​since the incident

In addition, GSR Markets may be the market maker for Meme token BAN. According to the record on November 18:

1.5 million BAN were withdrawn from Gate and MEXC, and then part of them were recharged into Kucoin; the wallet G13si...zWCdu recharged BAN worth 2.28 million US dollars to GATE, and the SOL required for the transfer was provided by GSR.

What is the future of ban?

Sun Yuchen's involvement in ban seems to have complicated ban's financial prospects. Ban has also intersected with Space X Starship, listing on Binance, Sotheby's auction, GSR Markets market making, etc. It seems to have the breath and buff of many parties. I believe many people will ask, what will be the future of Meme Coin Ban?

With Justin Sun’s successful bid for “Comedian” today, the short-term hype may decline significantly, but in the big picture: most popular memes have seen a price correction of more than 30%, so the trend direction is highly uncertain.

Let’s review what kind of meme ban is:

1. $ban is a meme released by the president of Sotheby’s. The ceiling of the meme of European and American origin is 100 billion US dollars.

2. Ban is the first meme that combines art and blockchain, because artwork turns ban into a traffic entrance for web2 and web3.

3. Ban can make the current RWA a reality, and the leader in the RWA bull market: ban will occupy a place.

4. The ban meme’s European and American origins attracted investors and celebrities from major communities.

But as a meme coin, the "banana on the wall" image can easily spread Ban. Coupled with the several buffs mentioned above, for me personally, Ban is worth adding to the "self-selected Meme Watch List". Analyze the addresses that bought Ban in large amounts, and there may be a "second ride" opportunity point.

#Cryptocurrency# #Ethereum#

Work statement: Personal opinion, for reference only

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