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HomeCrypto NewsMarketBillionaire Mark Cuban Heaps Praises on Shiba Inu and Dogecoin as He Considers His Own Meme Coin

Billionaire Mark Cuban Heaps Praises on Shiba Inu and Dogecoin as He Considers His Own Meme Coin

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Billionaire Mark Cuban praised Shiba Inu and Dogecoin for their community-driven approach as he considers launching his own meme coin.

His comments came on the back of the launch of the Official Trump (TRUMP) and Official Melania (MELANIA) meme coins. These tokens, introduced just days before Donald Trump’s inauguration, quickly gained traction among traders. 

Riding on the Trump family’s popularity, both coins saw massively rapid growth, with TRUMP achieving a market cap of over $14 billion hours after its launch. The meme coin reportedly skyrocketed President Donald Trump’s net worth from $7 billion to $53 billion.

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Mark Cuban Considers Launching His Own Meme Coin

Amid this success, Cuban recently considered launching his own meme coin. He proposed releasing a coin similar to TRUMP but with proceeds directed to the U.S. Treasury to help reduce national debt. 

Notably, some crypto proponents have also suggested President Trump use the proceeds from his meme coin to reduce the national debt.

Cuban further discussed transparency around his proposed project, noting that he would publish the wallet address for public tracking. The billionaire described such ventures as gambling but suggested they could be more meaningful if they aligned with a greater cause like reducing the national debt.

In response, NFT influencer Artchick.eth warned of potential issues. She argued that such projects often lead to losses for early buyers due to how speculative meme coins typically are. Artchick also highlighted the difficulty of ensuring sustainable growth and community-driven development. 

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Cuban Praises Dogecoin and Shiba Inu

Interestingly, Cuban acknowledged her concerns as reasonable. He agreed that long-term success in meme coins hinges on building a dedicated community. He pointed to Shiba Inu and Dogecoin as examples of coins that have maintained relevance by fostering strong user bases.

The 66-year-old billionaire praised Dogecoin and Shiba Inu for their unique ability to create lasting communities. For context, while many meme coins fail, these two have defied the odds through their community-driven approach despite launching years ago. 

Cuban admitted that meme coins are inherently speculative, as he likened them to games of musical chairs. However, he called attention to the importance of transparency and honesty in such a project.

Shiba Inu Lead Responds

Responding to this comment, Shiba Inu lead developer Shytoshi Kusama invited Cuban to collaborate with the Shiba Inu ecosystem, noting that the project combined community support with real-world technology. For context, the ecosystem has continued to grow with technologies like layer-2 solution Shibarium.

Kusama stressed that Shiba Inu’s success comes from a clear vision and strong community-driven initiatives. Nonetheless, he clarified misconceptions about Shiba Inu’s origins, reiterating that the coin has always been about community from the start.

Meanwhile, at press time, TRUMP and MELANIA have continued to correct. Despite this, they are still witnessing gains from their initial releases. Specifically, TRUMP is down 40.8% in the past 24 hours, with a current market cap of $6.9 billion. Also, MELANIA has dropped 62% in 24 hours to a market cap of $800 million.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Sam Wisdom Raphael
Sam Wisdom Raphael
Sam Wisdom Raphael is a seasoned crypto news writer and journalist with 5 years of experience covering blockchain, DeFi, and crypto developments. Sam's active presence in the crypto community complements his deep understanding of the crypto space, allowing him to craft comprehensible price analysis reports and tackle technical blockchain concepts.

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