Is Tron's popularity declining? Tron's tweets dropped to a historic low after Buffett's lunch

Maybe the fans you bought will also be lost?

Tron’s popularity appears to be fading fast, with its Twitter chatter dropping to near-record lows.

TRON fans are losing

According to data from crypto data analysis company The Tie, the long-term popularity of TRON hit a record low in August 2019. After TRON founder Justin Sun announced that he had won the Buffett lunch, the number of his tweets soared to around 500 per day in June, but since June, the number of TRON tweets has fallen by 59%, the lowest since November 2017.

This data is evidenced by the declining market value of TRON. As of press time, the market value of TRX/USD on Binance has fallen by 60% since the beginning of the year. At the same time, TRX has performed even weaker against Bitcoin, and its relative value has fallen by more than 80% so far.

(Image source: coinmarketcap)

At the same time, according to Xiaocong’s query, Google Trends data shows that the popularity of terms such as TRX and Tron has gradually declined in the past 12 months.

In terms of Baidu Index, TRON’s popularity has only peaked three times in the past six months. Sun Yuchen’s popularity is higher than that of the project. The first and second peaks occurred around the announcement of the Buffett lunch in June, and the third peak occurred when Sun Yuchen canceled the lunch.

The price of TRON has been weak this year, reaching a high point in mid-June and has been falling since then. According to Xiaocong, in the early morning of June 4, Justin Sun spent $4,567,888 to bid for the "Buffett Charity Lunch". After that, the topic of Buffett's lunch continued to ferment in major mainstream media and was hyped for nearly a month. Until July 23, Justin Sun announced that he would cancel the lunch meeting with Buffett due to physical discomfort.

After Sun Yuchen announced that he would have lunch with Buffett, the price of TRON briefly rose, but there was no obvious breakthrough. It was obvious that the market was not particularly interested in TRON's marketing. On July 23, when Sun Yuchen announced that he would cancel the lunch meeting due to illness, the price of TRON fell sharply and has been falling since then.

Social media often plays a vital role in promoting projects, and projects with more followers and engagement rates tend to attract more speculators to buy their assets. Tron, led by its founder Justin Sun, has been able to keep its overall returns in positive territory. However, investors seem to have begun to view Tron as an overhyped project.

The Tie, a crypto data analysis company, believes that Sun Yuchen began the process of "suicide" from the moment he announced that he had won the annual charity auction for lunch with Buffett. The 26-year-old entrepreneur used the opportunity to attract more people to participate in TRX, making its price higher relative to the US dollar and Bitcoin. But later, he canceled the lunch on the grounds of kidney stones. Since then, Sun Yuchen has avoided discussing the lunch date with Buffett and has not yet rescheduled a new time.

The Tie commented that Tron posted a tweet volume of about 500 daily tweets in June after Sun Yuchen announced his lunch with Buffett. Since June, the tweet volume has dropped by 59%, approaching the low point in November 2017, and the price has fallen from a high of $0.39 12 months ago to $0.016.

Sun later issued a lengthy apology for over-publicizing the incident, claiming that his "immature words and actions, youthful arrogance and thoughtless remarks" led to his loss of control.

However, although the number of Tron's tweets has dropped significantly, Tron still seems to have not given up on fan management, which has been questioned by some people in the industry. Cryptocurrency trader Josh Rager tweeted that Sun Yuchen "bought fans" on the Twitter platform. Rager said that Sun Yuchen bought 5,000 to 6,000 fans every day. He also said that Sun Yuchen may have embarked on this path as early as 2018, because statistics on Twitter showed that the number of Tron's Twitter fans dropped significantly last year, and then the number of fans suddenly rebounded until now.

TRON, which has always been known for its marketing, has been keeping a low profile at the moment. How will it maintain its price in the future? This is worth looking forward to.