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

On May 21, 2025, Justin Sun, the founder of Tron, visited the SpaceX facility in Texas. Following his visit, he posted a tweet featuring a digitally generated image with Elon Musk, the CEO of SpaceX. The caption, “Shall we send a banana to the sun together?” quickly went viral, sparking significant interest and speculation within the cryptocurrency community.

The tweet had an immediate impact on the prices of TRX and DOGE. TRX, the native cryptocurrency of the Tron network, saw a 2.3% increase in its price within 60 minutes, rising from $0.115 to $0.117. This surge was particularly notable on Binance, where over 12 million TRX tokens were traded, marking a 15% increase in trading volume compared to the previous day. DOGE, another cryptocurrency closely associated with Elon Musk, also experienced a 1.5% price uptick, reaching $0.135. The trading volumes on Coinbase for DOGE rose by 10% on the same day, with many attributing this spike to Musk’s presence in the tweet.

TronScan reported an 8% surge in active wallets after the tweet, indicating heightened retail investor activity. Many interpreted Sun’s tweet as a hint at a future collaboration with Elon Musk, which fueled speculative optimism. Market watchers noted that the tweet came during a period of tech sector turbulence, with Tesla stock having fallen 1.8% the previous day. This led many traders to shift their investments into crypto assets, further driving the market surge.

Technical indicators supported the bullish momentum. TRX’s Relative Strength Index (RSI) on the hourly chart stood at 58, suggesting more room for upward movement before the asset became overbought. DOGE, closely linked with Musk’s online presence, also benefited from the speculative optimism. Traders viewed the tweet as a revival of meme coin relevance, contributing to the overall market excitement.

The crypto community responded with mixed emotions. Some praised the marketing genius behind the tweet, while others criticized the speculative triggers it created. Regardless, the market moved swiftly, confirming the impact of social media on crypto prices. This event underscores the evolving relationship between online influence and decentralized finance. In a landscape driven by sentiment and real-time reaction, tweets from high-profile figures like Justin Sun and Elon Musk can trigger immediate capital flows. As crypto adoption grows, understanding these social triggers becomes vital for traders, investors, and analysts aiming to navigate increasingly sentiment-sensitive markets.