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At the Token 2049 conference, Tron founder Justin Sun endorsed popular meme coins like Dogecoin and Shiba Inu, emphasizing their pivotal distinction from traditional finance and celebrating their community-driven values
Justin Sun Champions Meme Coins, Cites Community Impact and Market Success at Token 2049
Sun shared a video clip from the Token 2049 Dubai conference in which he advocates for meme coins. In the video, the Tron founder reveals his fascination with all the meme coins featuring various animal emblems. Moreover, he gave special mention to Shiba Inu and Floki.
According to CoinGape, Sun highlighted the top meme coins with a market valuation of over $10 billion. He stated that this valuation does not make sense to those who support traditional finance. On the other hand, Sun believes that "fair launch and community participation," both essential in the crypto industry, are driving this massive market value.
Furthermore, the Tron CEO underlined that establishing a successful meme coin is "just as hard as creating a good crypto project." He also cited Tesla CEO Elon Musk's continuous support for Dogecoin to demonstrate the reach of meme coins. Sun also described DOGE as one of the "top crypto brands."
Justin Sun Forecasts Future of Meme Coins Despite Recent Market Downturns
The Tron founder shared his positive stance on meme coins. He stated that each bull cycle will have its meme coin that will outperform others, just like Shiba Inu did this time. Sun also joked about the limited number of animal characters that may be used.
Sun summed up the video's core in a brief comment. He wrote, "Meme coins may appear unorthodox, but they demonstrate the power of community in cryptocurrency. Building a successful endeavor, whether meme-based or not, requires dedication. Let us see what the next bull cycle delivers!"
Despite the bright outlook, these meme currencies have recently experienced losses. At press time on May 1, the Dogecoin price fell 11.17% to $0.1235, with a market capitalization of $17.79 billion. Meanwhile, Shiba Inu, popularly known as the Dogecoin Killer, fell 10.87% and traded at $0.00002094, with a market capitalization of $12.34 billion.
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