Justin Sun, the founder of TRON, has recently reaffirmed his support for the meme coin sector. As per the famous entrepreneur, although memecoins appear unconventional, they represent the potential of the community within the broader crypto market. He said this in an interview at the TOKEN2049 event. His latest post on the official X account also presents him discussing the role of these tokens in the crypto industry. He mainly referred towards Shiba Inu and Floki.
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! 👀 pic.twitter.com/S40tXLhSO3
— H.E. Justin Sun ĺ™ĺ®‡ć™¨ (@justinsuntron) May 1, 2024
Justin Sun Reaffirms Support for Memecoins
According to Sun, despite the non-traditional nature of these tokens, they occupy a significant position. He thinks that these tokens are not going to fade away because of their impact on the overall crypto landscape. Sun disclosed that the respective coins will potentially play a crucial role even in the upcoming bull runs. While supporting his argument, he pointed toward the popular personalities backing them.
He mentioned that celebrities such as Elon Musk are providing great support for such tokens, referring towards $DOGE coin. Hence, he added, they will likely be successful in the future. In his words, these things are included among the factors that combine to strengthen the position of these tokens.
The Entrepreneur Says Community Participation Plays a Huge Role in Meme Coin Mania
However, he also asserted an important point that influences the performance of the meme coins. As per Tron founder, the community’s role is vital in defining the place of these crypto assets. He added that this also depends on the level of participation that the crypto community shows. Thus, the higher community participation will likely result in a dominant position of the meme coins.