Justin Sun Endorses Dogecoin; Shiba Inu & More Meme Coins

Memecoins meme coin

At the Token 2049 conference, Tron founder Justin Sun showed his support for meme coin projects and praised the achievements of Dogecoin, Shiba Inu, Floki, and others.

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Justin Sun, the founder and CEO of Tron DAO, endorsed Dogecoin (DOGE), Shiba Inu (SHIB), Floki (FLOKI), and other meme coins during the recent Token 2049 conference. Sun expressed his belief that meme coins represent the unique aspect of the crypto industry compared to traditional finance. Additionally, he encouraged the further development of such meme coin projects.



Justin Sun Advocates for Meme Coins at Token 2049 Conference

In a post on X, Justin Sun shared a clip from the Token 2049 Dubai conference where he voiced his support for meme coins. During the clip, the Tron founder expressed his fascination with the variety of meme coins featuring different animal logos, giving special recognition to Shiba Inu and Floki.

Sun also highlighted the remarkable success of meme coins with market valuations exceeding $10 billion. He noted that while this valuation might seem illogical to proponents of traditional finance, Sun believes it is attributed to the principles of “fair launch and community participation” fundamental to the crypto space.

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Moreover, the Tron CEO stressed that launching a successful meme coin is as challenging as creating a quality crypto project. He underscored the significance of Tesla CEO Elon Musk’s ongoing support for Dogecoin, citing it as an example of the extensive influence of meme coins. Additionally, Sun hailed DOGE as one of the “top crypto brands.”

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Justin Sun’s Bullish Stance on Meme Coins

In addition to expressing his bullish outlook on meme coins, the Tron founder highlighted their significance in each bull cycle. Sun emphasized that every bull cycle will feature its own standout meme coin, akin to Shiba Inu’s prominence in the current cycle. He humorously pointed out the limitation of using animal characters in these coins.

While sharing the video, Sun encapsulated its essence in a concise statement, affirming that meme coins, despite their unconventional nature, demonstrate the power of community in crypto. He stressed that building a successful project, whether meme-based or not, requires dedication, and expressed anticipation for what the next bull cycle holds.

However, despite the optimistic outlook, meme coins have recently experienced losses. At the time of writing, Dogecoin’s price had dropped by 11.17% to $0.1235, with a market capitalization of $17.79 billion on Wednesday, May 1. Meanwhile, Shiba Inu, also known as the “Dogecoin Killer,” witnessed a 10.87% decline, trading at $0.00002094 with a market cap of $12.34 billion.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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  • Asad

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