 token saw a dip in price soon after the news of Justin Sun buying the famous artwork that has inspired the coin.){kind=link}
Comedian ($BAN) token saw a dip in price soon after the news of Justin Sun buying the famous artwork that has inspired the coin.
According to Justin Sun’s official Twitter post, the TRON founder and businessman has paid $6.2 million for the banana tapped to the wall artwork.
Justin Sun Pays $6.2 Million for Art Piece
According to Justin Sun’s X post, the TRON founder has successfully paid $6.2 million for the classic piece of Comedian by Maurizio Cattelan. Justin has described the artwork as “This is more than simply a piece of art; it’s a cultural phenomenon that connects the Bitcoin community, memes, and the art world.”
Justin also said that in his opinion the artwork will become part of history and stimulate further reflection and conversation in the future.
He adds “I am honored to be the proud owner of the banana and look forward to it sparking further inspiration and impact for art enthusiasts around the world. Additionally, in the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture.”
Justin’s Artwork Buy Comes As Memecoins have Taken Market By Storm
The $BAN token has seen prominence due to the craze of memecoins in the market. The banana tapped-to-the-wall meme that has inspired the Comedian memecoin is among one the most popular in the market right now.
With the growth in the Bitcoin market, Memecoins are now receiving much-needed market attention and experiencing an increase in trading.
The increase in the global money supply has made risky investments more alluring to the majority of investors. Consequently, a lot of money has been invested in cryptocurrencies like Comedian
Memecoins are usually seen as investments for excess funds that are high risk and high profit. At the same time, many private investors are searching for new ways to generate income, a symptom of changing perspectives in the conventional banking industry.
Memecoins are competing because they provide investors with an opportunity to reduce insider advantages and enhance fair access for investors around the world.
$BAN Price: Can It Rise in the Future?
BAN coin has seen a massive slump after the news of Justin Sun buying the artwork landed, however, it seems that the price was reacting to market sentiments.
As per the market indicators, the present sentiment for the coin is bearish. The Fear & Greed Index for BAN is at 83 (Extreme Greed). With price volatility over the past 30 days, Comedian recorded 15 out of 23 (65%) green days.
If this trajectory does continue, the coin might see a further slump in trading. However, a rise in market sentiments can change the course of the trading, likely giving the coin the much-needed rise it needs.