During the Token 2049 conference, Tron founder Justin Sun backed meme coin projects and hailed the success of Dogecoin, Shiba Inu, Floki Inu, and PEPE, among others.
In a recent event, Justin Sun endorsed Dogecoin (DOGE), Shiba Inu (SHIB), Floki (FLOKI), and other meme coins in the latest Token 2049 conference. He believes that meme coins are the “first thing” that sets the crypto industry apart from TradeFi. He also encouraged the development of such meme coin projects.
Justin Sun Endorses Shiba Inu, Dogecoin & FLOKI
Justin Sun In his post on X, posted a clip from the Token 2049 Dubai conference in which he speaks in favor of meme coins. In the clip, the Tron founder expresses his fascination with all the meme coins with different animal logos. additionally, he offered a special mention to Shiba Inu and Floki.
Justin Sun also highlighted the top meme coins that have reached a huge market valuation of over $10 billion in Total Market capitalization. In addition, he highlighted that this valuation doesn’t make sense to those who endorse TradeFi. However, Justin Sun believes that behind this market capitalization is “fair launch and community participation,” which are pivotal to the crypto space.
Furthermore, Justin Sun reiterates that launching a successful meme coin is “just as hard as creating a good crypto project.” Moreover, he emphasized on Tesla CEO Elon Musk’s continued endorsement of Dogecoin to highlight the reach of meme coins. Additionally, Sun labeled DOGE as one of the “top crypto brands.”
Justin Sun Positive On Meme Coins Future
Furthermore, the Tron founder expressed his positive outlook on meme coins. He noted that every bull cycle will have a meme coin that will outshine others, just like Shiba Inu did this time. Sun also jokingly highlighted the limitation of animal characters to be used.
Despite the positive outlook, these meme coins have been grappling with losses lately. As of the time of writing, the Dogecoin price had slumped 22% for the past 7 days to $0.1263 with a market capitalization of $18.29 billion on Wednesday, May 1. Meanwhile, Shiba Inu, also called the Dogecoin Killer, witnessed a 21.44% crash for the past 7 days and currently trading at $0.0000245 with a market cap of $12.60 billion.
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