Justin Sun's Tweet Sends TRX Up 2.3% DOGE Up 1.5%

TRON founder Justin Sun's recent visit to SpaceX and subsequent tweet about sending a banana to the sun with Elon Musk has sparked significant market speculation and activity. The cryptic tweet, posted on May 21, 2025, immediately caught the attention of the crypto community, leading to a surge in interest and trading volume for both TRX and DOGE.

Within an hour of the tweet, TRX's price increased by 2.3%, rising from $0.115 to $0.117. This price movement was accompanied by a 15% increase in trading volume, with 12 million TRX traded on Binance. The tweet also had an impact on Dogecoin (DOGE), which rose by 1.5% to $0.135, with a 10% jump in trading volume on Coinbase. This sudden activity highlights the influence of social media on crypto markets, where even a humorous tweet can trigger significant price movements.

The on-chain activity for TRX also saw a notable increase, with TronScan reporting an 8% rise in active TRX wallets. This indicates that retail investors were quick to respond to the news, further reinforcing the power of social sentiment in driving crypto price movements. The market's reaction to Sun's tweet is not surprising, given his history of using social media to influence the market. Coupled with his visit to SpaceX, the tweet added weight to the speculation of a potential partnership between TRON and SpaceX.

While no formal announcement has been made regarding a collaboration between TRON and SpaceX, the mere suggestion of such a partnership has been enough to spark momentum in the speculative markets. Traders are now closely monitoring any potential responses from Musk or follow-up tweets from Sun, as any acknowledgment from Musk could amplify the price movement, especially for DOGE, given Musk's historical support for the meme coin. This has fueled interest in short-term bullish positions across both TRX and DOGE.

Technical indicators also show room for further price movement. Binance reported a 20% increase in TRX trading volume by 1:00 PM UTC, while the DOGE/BTC pair on Coinbase gained 0.5% to 0.0000021 BTC. Key resistance levels are being monitored at $0.120 for TRX and $0.140 for DOGE. Breaking these levels could confirm broader bullish momentum triggered by the social hype.

This sudden price action coincides with a period of volatility in the tech sector. On May 20, Tesla (TSLA) dipped 1.8% to $220.50, which typically influences the level of risk people are willing to take in the crypto markets. Speculators may be putting money into more volatile, short-term prospects like TRX and DOGE. By 2:00 PM UTC on May 21, TSLA had largely recovered to $222.10, and Bitcoin had gone up 0.8% to $68,200. This correlated uptick suggests that positive sentiment in equities could spill over to crypto, especially those coins boosted by public personalities.

Grayscale’s TRX Trust also reported a 5% inflow increase in the past 24 hours, hinting that institutional investors are beginning to respond to the buzz. While Justin Sun’s “banana to the sun” tweet may have been a joke, the market’s response was anything but. TRX and DOGE continue to ride a wave of speculative momentum, driven by social media dynamics and the potential for more headline-grabbing moments between Sun and Musk. Traders should keep a close eye on both price levels and Twitter feeds—because in crypto, the next big move might come from a meme.