Memecoins
Tron’s Justin Sun Supports DOGE, SHIB and Other Meme Coins
Tron DAO Founder and CEO Justin Sun Endorsed Dogecoin (DOGE), Shiba Inu (SHIB), Floki (FLOKI) and other meme coins at the latest Token 2049 conference. Sun believes that meme coins are the “first thing” that sets the crypto industry apart from traditional finance. Furthermore, he encouraged the development of such coin projects.
Tron CEO supports Dogecoin, Shiba Inu and Floki
In an article on X, Sun published an excerpt from the Token 2049 conference in Dubai in which he spoke out in favor of meme coins. In the clip, the Tron founder expresses his fascination with all the meme coins with different animal logos. He also offered a special mention to Shiba Inu and Floki.
Sun also highlighted the top meme coins that have reached a huge market valuation of over $10 billion. Furthermore, he stressed that this valuation does not make sense for those who support traditional finance. However, Sun believes that behind this gigantic market capitalization lies “a fair launch and community participation”, which are integral to the crypto space.
Furthermore, the Tron CEO emphasized that launching a successful coin is “just as difficult as creating a good crypto project.” Additionally, he highlighted Tesla CEO Elon Musk’s continued support of Dogecoin to highlight the reach of meme coins. Additionally, Sun called DOGE one of the “top crypto brands.”
Read also: Whales buy $624 billion in SHIB and PEPE, will the price rise continue?
Justin Sun Upbeat on Coins Meme
Furthermore, the Tron founder expressed his optimistic view of meme coins. He noted that each bull cycle will have its own coin that will overshadow the others, just like Shiba Inu did this time. Sun also jokingly pointed out the limitation of animal characters to be used.
Sharing the video, Sun captured the essence of it in a short statement. He wrote: “Meme Coins may seem unconventional, but they highlight the power of community in crypto. Building a successful project, meme-based or not, takes dedication. Let’s see what the next bull cycle has in store for us! »
However, despite the bullish outlook, these meme coins have recently struggled with losses. At the time of going to press, the Dogecoin Price fell 11.17% to $0.1235 with a market cap of $17.79 billion on Wednesday, May 1. Meanwhile, Shiba Inu, also nicknamed the Dogecoin Killer, witnessed a 10.87% crash and traded at $0.00002094 with a market cap of $12.34 billion.
Read also: DOGE Price Forecast: Can Dogecoin Finally Reach $0.2 Thanks to Growing Whale Interest?