Mark Cuban Considers Launching His Own Meme Coin, Praises Dogecoin and Shiba Inu for Their Community-Driven Approach

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.

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

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

Riding on the popularity of the Trump family, both coins have seen a 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.

Mark Cuban Considers Launching His Own Meme Coin

In light of this success, Cuban recently hinted at 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.

“If meme coins are the way, maybe I’ll issue one. With a twist. Same terms as $TRUMP. 20% float. Same release schedule. One difference. All the revenue from the sale of the coins go to the US Treasury. The wallet address will be published so everyone can track it. If…” Cuban stated.

Notably, some crypto proponents have also suggested that 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.

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.

“We agree. It’s why Doge, Shibu Inu and only a few others have worked. It’s about the community long term. I’m not saying buyers won’t get rekt. I said it was gambling. It’s a game of musical chairs. No promises. No pumps by me. Just complete transparency,” Cuban added.

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.

“Why not align with us @mcuban here at Shib. Take a 10 minute call and see that it’s not just community but real technology that keeps us going. Otherwise, you’ll release another meme like everyone else,” Kusama stated.

Shiboshi lead developer also highlighted Shiba Inu’s origins, noting that the coin was never intended to be a quick money-making scheme and that it has always been about community from the start. He clarified this misconception about Shiba Inu’s narrative.

“It was never about quick money. It was about showing how community can outlast and outperform any hype or marketing narrative. Shiba has always been about the people from day 1. It’s in the original post on Medium and in every single statement since. Disregard FUD. Shib to the moon,” Kusama added.

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 necessarily reflect The Crypto Basic view. Readers are encouraged to carry out their own research before making any investment decisions.