What's Behind Justin Sun's $100 Million Deposit On Binance? Is He Ready To Buy Meme Coins?

And recently, Justin Sun, the enigmatic founder of TRON and a well-known figure in the crypto space, made headlines with a staggering $100 million deposit on Binance.

This move has sparked a lot of speculation among investors, analysts, and crypto enthusiasts. Is Sun positioning himself for a massive buying spree? And more importantly, are meme coins his target?

If so, there are plenty of opportunities in the meme space right now – including tokens like Scotty the AI ($SCOTTY), Smog ($SMOG), and Sponge V2 ($SPONGE). These three stand out as the biggest “profit bombs” in 2024.

Let’s check out the details.

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Justin Sun Confirms Trading Meme Coins After $100M Deposit on Binance – Will He Invest In These Hot Meme Coin Presales?

Shortly after depositing $100M on Binance earlier last year, Justin Sun confirmed on Twitter that he would start trading meme coins in the market.

In the tweet, Sun shared his intentions to dive into cryptocurrency trading, making his public crypto wallet address available for everyone to see. He’s taking a pretty bold step by promising to personally absorb any losses from trading meme coins, while any profits he makes will be directed to various charities.

"I will actively engage in trading meme coins and promising projects through my address. Please note that I will personally cover any potential losses incurred from these trades. Additionally, all the gains obtained will be entirely donated to charitable organizations."

He also offered a word of advice to his followers, emphasizing that trading meme coins should be seen more as a hobby than a serious investment strategy. But that doesn’t mean you can’t profit from it.

In fact, there are some meme coins right now that analysts believe could bring up to 50x-100x profits after they hit listing day. These include Scotty the AI ($SCOTTY), Smog ($SMOG), and Sponge V2 ($SPONGE).

Check out the details below.

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Scotty the AI ($SCOTTY) In the Spotlight with Cutting-Edge AI-Based Features and a Unique Backstory

Scotty the AI ($SCOTTY) is revolutionizing the crypto market by merging AI with blockchain for enhanced security and fraud detection. Nicknamed the 'Guardian of the Crypto Universe,' it's quickly capturing the crypto community's attention with its innovative solutions and a focus on community engagement.

Currently in presale at just $0.0063 per token, $SCOTTY boasts a fixed supply of 1.734 billion tokens, with over 500 million already distributed, ensuring its rarity. The platform leverages advanced AI to scrutinize blockchain data, offering swift and accurate security measures.

An upcoming feature, 'Scotty Chat,' will use natural language processing (NLP) to aid users with blockchain and cryptocurrency questions, further improving user experience.

Highlighting its commitment to the community, Scotty the AI has renounced its token contract, allowing token holders with decision-making authority. Its ERC-20 compatibility also promises user-friendly access.

Looking ahead, the platform is set to introduce the 'Scotty Swap Tool' to boost utility and plans for its own blockchain to facilitate decentralized governance, marking significant steps towards a secure and user-centric crypto ecosystem.

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Smog ($SMOG) Is Catching Attention as the Biggest Airdrop Event in 2024 with Potential to Win Amazing Rewards

Smog ($SMOG) is a new meme coin on the Solana blockchain and it’s making waves without a presale, directly hitting the Jupiter decentralized exchange in February 2024.

This move paid off, as Jupiter's trading volume recently surpassed Uniswap's. Investors can buy $SMOG with ETH or USDT directly on its website and even stake their tokens for a 42% return.

Within a day of its launch, $SMOG's value skyrocketed by over 1,300%, continuing to climb to an astonishing 5,200% increase from its initial launch, boosting its market cap from $2 million to over $107 million.

Smog offers airdrop rewards and community bounties, with token holders earning points simply by holding $SMOG.

The team plans to introduce quests and challenges for additional airdrop points, with 490 million tokens reserved for airdrops out of a 1.4 billion supply. Another 700 million tokens are set aside for marketing.

Aiming to be the top cryptocurrency on the Solana blockchain, Smog has allocated 15% of its supply for future listings on centralized and decentralized exchanges.

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Sponge V2 ($SPONGE) Is Adding P2E and Stake-to-Bridge Functionality to Its Original Token

Sponge V2 is set to outdo its predecessor with ambitions of becoming bigger and more impactful. The original $SPONGE saw a staggering 100x increase post-launch, peaking at a $100 million market cap.

The transition to V2 is exclusive, requiring investors to bridge their V1 tokens, rewarding them with four years of staking rewards in the new version for their early commitment.

The offer includes a 100% bonus on V2 tokens for those who stake their V1 tokens, doubling their investment instantly. $SPONGE V2 isn't just stopping there; a play-to-earn crypto game is in the pipeline, details of which can be found on the SPONGE Discord channel.

The project's sights are set on major crypto exchanges like Binance and OKX, aiming to replicate the success seen by other meme coins on these platforms. A listing on these exchanges could propel $SPONGE V2 to surpass its previous $100 million valuation.

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Conclusion

It looks like even big crypto names like Justin Sun are getting into meme coin trading – but is it really surprising considering how many big profits we’ve seen in the market over these past few years?

However, identifying the next tokens that will explode is anything but easy. But there are certain traits that analysts use to make a decision.

Right now, the most popular 100x meme tokens in the market include Scotty the AI ($SCOTTY), Smog ($SMOG), and Sponge V2 ($SPONGE).

And the best part is – you can still get these tokens for a fraction of the price they will be worth after listing.