Justin Sun, the founder of the Tron blockchain, has raised the question of whether the meme token “coconut chicken” (CCC) should find its home on the Tron network. This proposition comes as the latest in a series of unconventional considerations by Sun, known for his involvement in the blockchain space.
The coconut chicken token is not an existing memecoin as Justin seeks to join the meme frenzy that has captured the crypto ecosystem after the popularity of older memecoins such as Doge and Shiba Inu produced a massive profit for traders as well as a price drop.
Justin Sun is a Chinese-born Grenadian cryptocurrency entrepreneur and business executive, born on July 30, 1990, in Xining, Qinghai, China. He is the founder of TRON, a blockchain DAO ecosystem, and has been involved in the development and promotion of various blockchain projects.
Sun is a serial entrepreneur and is well-known in the blockchain industry. He previously worked as the CEO of Peiwo, a Chinese voice-based social networking app, and was named CNTV’s most noteworthy new entrepreneur in 2015 and included in Forbes 30 Under 30 Asia list from 2015 to 2017.
In recent years, Justin Sun has faced legal challenges, including charges from the US Securities and Exchange Commission (SEC) for fraud and other securities law violations.
The SEC alleges that Sun and his companies offered and sold TRX and BTT as investments through multiple join and recruit others to Tron-affiliated Telegram and Discord channels, and create BitTorrent accounts in exchange for TRX and BTT distributions.
Meanwhile, the communication made by Sun on X appears as a continuation of the interest he expressed on the platform for memecoins. “Just led a keynote at Taipei Blockchain Week on “The Future of Inscriptions & Meme Culture in TRON Ecosystems,” he said after attending the Web3 event in Japan.
The discussion revolved around the idea of merging meme culture with blockchain technology to advance decentralized finance (DeFi) within the TRON Network.
This exploration suggests an interest in leveraging the playful and viral nature of memes to enhance user interaction and participation in decentralized finance on the TRON Network. The integration could involve incorporating meme-inspired tokens, themes, or functionalities that resonate with the meme culture, aiming to attract a broader audience and make DeFi more accessible and entertaining.
Apart from the Tron CEO, other crypto leaders such as co-founder of Solana, Anatoly Yakovenko, and the Fantom Foundation have shown support for the growing interests of memecoins.
For Anatoly, he is against the nature of the launch of most memecoins as he believes that they favor the creators and not the community. He explained it as a lottery with zero gain for the community.
On the flip side, he recommended that platforms featuring meme coins should organize entirely equitable launches devoid of any fees. This measure could deter fraudulent iterations from emerging and consistently depleting user liquidity.
Fantom Foundation has shown support for the Blue Kirby and Cekke memecoins launched on the blockchain. The two projects unveiled in December have proven to affect the price of Fantom positively as the crypto traders are stacking on Fantom to access the memecoins.
As the year ends and the drive towards memecoins continues, will this trend be an early signal and trigger for the next bull run?
