Loading... Loading... Anatoly Yakovenko , the co-founder of Solana Labs , expressed his skepticism about the idea of meme coins contributing to public good. His comments come amid the meteoric rise of Solana SOL/USD based meme coins like Dogwifhat WIF/USD and Bonk (BONK). What Happened : Yakovenko took to
Social Media platform X formerly known as
Twitter to share his thoughts on meme coins and their potential to contribute to the public good. He stated, “Memecoin are bad, but if they donate to a public good then they have paid a penance for the bad thing. I find this logic to be nihilistic.” He continued, “I'd rather see people that hodl a memecoin change their behavior and go do something good, like walk dogs at a dog shelter and encourage other hodlers to do the same. Personal behavior change towards something good is much more important than financialization of good.” See Also: Dogecoin Set to Surge Over 200%, Says Crypto Analyst: ‘It’s Going To Do Something Insane This Cycle’ Yakovenko’s comments come at a time when meme coins are gaining significant traction in the
cryptocurrency market. Coins like Dogwifhat, Bonk, and Floki have been dominating the top gainers list in recent weeks, sparking a debate about their legitimacy and potential impact. Why It Matters : Solana SOL/USD , a blockchain platform, has been making waves in the cryptocurrency space. In February, the company’s co-founder Yakovenko highlighted the potential of blockchain in e-commerce, citing the success of their mobile phone sales. Meanwhile, meme coins have been a hot topic in the crypto world. In March, Dogwifhat, in particular, caught the attention of investors as it gained ground on Dogecoin DOGE/USD and Shiba Inu (SHIB). The surge in meme coin activity has also led to a significant increase in short liquidations for Dogwifhat. Image Via Shutterstock Read Next: Dog-Themed Meme Coins Dogwifhat, Floki, Bonk Dominate Top Gainers, Why Are They Surging Today Engineered by Benzinga Neuro , Edited by Kaustubh Bagalkote The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more. Loading... Loading...