Tron CEO Justin Sun Backs Dogecoin, Shiba Inu, and Meme Coins.
During the most recent Token 2049 conference, Tron DAO inventor and CEO Justin Sun endorsed Dogecoin (DOGE), Shiba Inu (SHIB), Floki (FLOKI), and other meme coins. Sun considers meme currencies the “primary factor” distinguishing cryptocurrency from conventional finance. Furthermore, he promoted the advancement of meme coin initiatives.
CEO of Tron endorses Dogecoin, Floki, and Shiba Inu
Sun advocated for meme currencies in a video clip from the Token 2049 Dubai conference that he uploaded to X. In the video clip, the founder of Tron demonstrated his captivation with the various meme coins featuring the animal logo. Furthermore, he expressed his admiration for Shiba Inus and Floki.
Sun also emphasized the leading meme currencies, which have amassed over $10 billion in market capitalization. He also emphasized that proponents of conventional finance find this valuation illogical. Nevertheless, Sun believes that this enormous market capitalization is due to “fair launch and community participation,” which are fundamental to the cryptocurrency space.
Moreover, the CEO of Tron emphasized that the difficulty of establishing a successful meme coin is “the same as that of developing a solid crypto project.” Additionally, to underscore the prevalence of meme currencies, he emphasized Elon Musk’s ongoing support for Dogecoin, the CEO of Tesla. Moreover, Sun categorized DOGE as one of the “leading cryptocurrency brands.”
A bullish Justin Sun on meme coins
Additionally, the founder of Tron was optimistic regarding meme currencies. As Shiba Inu did this time, he noted that each bull cycle will have its meme coin that surpasses all others. Sun also lightheartedly emphasized the restriction on the use of animal characters.
Sun encapsulated the video’s substance while sharing it in a brief statement. “Although meme coins may appear unconventional, they demonstrate the strength of community in cryptocurrency,” he wrote. Dedication is required to construct a successful endeavor, meme-based or not. Spectacular as the upcoming bull cycle may be!
Notwithstanding the optimistic prognosis, these meme currencies have been contending with recent losses. On Wednesday, May 1, the Dogecoin price decreased 11.17 percent to $0.1235 at press time, with a market capitalization of $17.79 billion. In contrast, Shiba Inu, also known as the Dogecoin Killer, experienced a decline of 10.87% in value and was worth $0.00002094 with a market capitalization of $12.34 billion.