After Dogecoin went viral and doubled its price in a short space of time, Tron's CEO Justin Sun said he intended to produce more content on TikTok to promote his platform.
Starting today, we’re going to focus on more content on TIK TOK… stay tuned to #TRON videos going viral!
Recently, TikTok content creators joined the crypto “clown coin” in an attempt to raise it to $ 1.
The alleged instigator behind this manipulation has the username of jamezg97. In one of his videos, he says:
“Here's an interesting thought: what if everyone who watched this video bought Dogecoin? Now, obviously, I would never suggest that, but could they really stop us? Could they stop us all? ”
In the past 24 hours, the ‘cryptocurrency meme’ has retreated more than 16% in its price, but is still trading around $ 0.003816, a price 64% higher than last week, according to data from Coingolive.
However, concerns are mounting over the alleged Pump & Dump scheme, a type of scheme prohibited in traditional markets. Phillip Christenson, financial analyst at Phillip James Financial, commented on the matter:
"It is not hard to imagine the SEC, (the U.S. Securities and Exchange Commission) taking down some of the most popular influencers who commit this type of scheme as a warning to others contemplating something similar."
User responses on Twitter were far from positive, with most tweets accusing Sun of trying to emulate the Pump & Dump scheme.
“You are the definition of a clone. Nothing unique or original, always copying and looking for new ways to deceive ”
And this is not the first controversy involving the name of Tron's CEO, recently Sun, who bought the network from Steem, was accused of trying to confiscate and exclude several participants from the network in a contentious hardfork. In addition to its project containing plagiarism, according to accusations.