Tron Founder Justin Sun Endorses Dogecoin, Shiba Inu & Other Meme Coins

Tron Founder Justin Sun Endorses Dogecoin, Shiba Inu & Other Meme Coins

Tron DAO founder and CEO Justin Sun expressed strong support for meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB), Floki (FLOKI), and others, at the recent Token 2049 conference. Sun believes that meme coins are a unique aspect of the crypto industry that sets it apart from traditional finance. He also encouraged the development of such projects.

Tron CEO Backs Dogecoin, Shiba Inu & Floki

In a post on Twitter, Sun shared a clip from the Token 2049 Dubai conference where he spoke in favor of meme coins. He expressed his fascination with the variety of animal logos associated with these coins, particularly Shiba Inu and Floki.

Sun highlighted the impressive market valuations of top meme coins, exceeding $10 billion. He acknowledged that this may seem illogical to traditional finance proponents. However, he believes that the success of meme coins is driven by "fair launch and community participation," which are fundamental principles of the crypto space.

The Tron CEO emphasized that creating a successful meme coin is not an easy task, comparing it to the development of any other viable crypto project. He also pointed to Tesla CEO Elon Musk's continued support for Dogecoin as a testament to the reach and impact of meme coins. Sun labeled DOGE as one of the "top crypto brands."

Justin Sun Bullish on Meme Coins

Sun expressed an optimistic outlook for the future of meme coins. He predicted that each bull cycle will witness the emergence of a dominant meme coin, similar to the rise of Shiba Inu during the current cycle. He also jokingly commented on the potential limitations of animal characters available for meme coin logos.

In his tweet, Sun summarized his views on meme coins: "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 brings!"

Despite Sun's bullish outlook, meme coins have recently experienced losses. At the time of writing, Dogecoin has declined by 11.17% to $0.1235, while Shiba Inu has dropped by 10.87% to $0.00002094.