Justin Sun Holds $51M in PEPE: What Other Memecoins Could End Up in His Portfolio?

Blockchain analytics firm Arkham Intelligence reported on October 27 that Justin Sun controls 2.82% of PEPE’s total supply through wallets linked to the TRON founder.

This accumulation, valued at approximately $51.25 million, places Sun as the largest identified individual holder of PEPE. The tokens entered Sun-linked wallets over the preceding 10 days.

The significant buildup resulted from two withdrawals from Poloniex. On October 17, about 7.2 trillion PEPE tokens, amounting to $28.44 million, moved into a Sun-linked address. Subsequently, on October 26, another 4.65 trillion tokens, valued at $20.32 million, followed.

Prior to these transfers, Sun’s attributed PEPE holdings were valued at $267,000, totaling 68 billion tokens. The two withdrawals increased his position to roughly 11.85 trillion PEPE tokens.

The identified PEPE holdings were preceded by $77 million in stablecoin movements originating from Sun-linked wallets destined for Poloniex. These transactions suggest related activity surrounding his latest memecoin position.

Sun’s overall net worth is estimated by Arkham to be between $5 billion and $7 billion, encompassing his crypto assets and stakes in HTX and Poloniex. His engagement with memecoins dates back to May 11, 2023, when he stated, "I've decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity."

The concentration of nearly 3% of a memecoin’s supply in wallets associated with one individual introduces potential price volatility risks, as large divestments could exert downward pressure, depending on prevailing market liquidity.

This pattern of high-profile participants accumulating significant stakes in speculative assets mirrors broader movements where institutional and prominent market participants monitor emerging protocols, such as Bitcoin Hyper, a Bitcoin-focused Layer 2 network preparing for launch.