Billionaire Mark Cuban praised Shiba Inu and Dogecoin for their community approach as he considered launch own coin.
His comments came on the back of the launch of the Official Trump (TRUMP) And Official Melanie (MELANIA) coins. These tokens, introduced just days before Donald Trump’s inauguration, quickly gained traction with traders.
Building on the popularity of the Trump family, both coins grew extremely quickly, with TRUMP reaching a market capitalization of over $14 billion within hours of its launch. The same piece would have soared President Donald Trump’s net worth increased from $7 billion to $53 billion.
Mark Cuban Plans to Launch His Own Meme Coin
Amid this success, Cuban recently considered launching his own coin. He proposed launching a similar coin to ASSET but with revenue directed to the US Treasury to help reduce national debt.
If meme coins are the way to go, maybe I’ll issue one. With a touch of originality. Same terms as $ASSET . 20% float. Same release schedule. A difference.
All proceeds from the sale of the coins go to the U.S. Treasury. The wallet address will be published so that everyone can follow it.
If…
– Mark Cuban (@mcuban) January 20, 2025
Notably, some crypto proponents have also suggested President Trump is using the proceeds from his 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 purposes. The billionaire described such ventures as gambling, but suggested they could make more sense if they aligned with a bigger causes such as the reduction of the national debt.
In response, NFT influencer Artchick.eth warned of potential problems. She argued that such projects often result in losses for the first buyers due to the generally speculative nature of the coins. Artchick also highlighted the difficulty of ensuring sustainable growth and community-driven development.
Cuban praises Dogecoin and Shiba Inu
Interestingly, Cuban acknowledged that his concerns were reasonable. He agreed that the long-term success of meme coins depends on creating a dedicated community. He highlighted Shiba Inu and Dogecoin as examples of pieces that have maintained their relevance by fostering strong user bases.
We agree. This is why Doge, Shibu Inu and only a few others worked. This is about community for the long term.
I’m not saying buyers won’t receive a response. I said it was a game. It’s a game of musical chairs.
No promises. No push-ups from me. Just total transparency
– Mark Cuban (@mcuban) January 20, 2025
The 66-year-old billionaire praised Dogecoin and Shiba Inu for their unique ability to create sustainable communities. For context, although many meme coins fail, these two have defied the odds with their community-based approach despite launching years ago.
Cuban admitted that meme pieces are inherently speculative, as he compared them to games of musical chairs. However, he drew attention to the importance of transparency and honesty in such a project.
Shiba Inu manager responds
Answer to this comment, Shytoshi Kusama, lead developer of Shiba Inu guest Cuban to collaborate with the Shiba Inu ecosystem, noting that the project combined community support with real-world technology. As a reminder, the ecosystem has continued to grow with technologies such as layer-2 Shibarium solution.
Why not join us @mcuban here in Shib. Take a 10 minute call and see that it’s not just the community but the real technology that keeps us going. Otherwise, you’ll come out with another meme like everyone else.
– Shytoshi Kusama™ (@ShytoshiKusama) January 20, 2025
Kusama emphasized that Shiba Inu’s success comes from a clear vision and strong community initiatives. Nevertheless, he clarified misconceptions about the origins of the Shiba Inu, reiterating that the play has always been about community from the start.
Meanwhile, as of press time, TRUMP and MELANIA continued to correct. Despite this, they continue to see progress compared to their initial versions. Specifically, TRUMP is down 40.8% over the past 24 hours, with a current market cap of $6.9 billion. Additionally, MELANIA fell 62% in 24 hours to reach a market cap of $800 million.
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