Recently launch of TRUMP and MELANIA tokens, promoted by President Donald Trump and First Lady Melania Trump, has prompted a mixture of excitement and caution within the memecoin and broader cryptocurrency community.
This frenzy has attracted the attention of billionaire investor Mark Cuban, who is now considering the creation of his own memecoin, inspired by the recent memecoin trends.
Cuban Memecoin Vision: Combining fun and financial responsibility?
In recent times social media postthe famous billionaire opened the door to the possibility of launching a new memecoin, saying, “If memecoins are the way, I might issue one.”
His announcement has sparked curiosity among crypto enthusiasts, especially since he said his memecoin would mirror the parameters of Trump's TRUMP memecoin.
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Cuban plans to implement a 20% float and follow a similar redemption schedule, with one major difference: all proceeds from the sale would be directed to the US Treasury Department. To increase transparency, Cuban also indicated that the wallet address would be publicly accessible, allowing anyone to track the funds.
Cuban described his campaign as a way to combine entertainment with a social cause, noting, “If you want to play, play. But at least use it to make a dent in the US debt. ”
This statement reflects a growing sentiment among some investors that memecoins can serve two purposes – providing both fun and potential benefits to larger social issues. wide However, Cuba's praise has not been without its critics.
Cuban cites Dogecoin's success
In response to Cuba's announcement, a user on X (formerly Twitter) warn him about the potential problems from the launch of memecoin, suggesting that he could be accused of using inconsistencies in the coin's launch.
The user confirmed that the price of memecoin, which was supposed to be regulated by the dynamics of supply and demand, would start from near zero, and warned Cuban not to proceed without careful consideration.
Cuban, undeterred by the criticism, defended his understanding of the memecoin landscape, saying, “It's not hard to put together. I never thought about making a meme base. It wouldn't be difficult at all.”
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The conversation continued back and forth, with the user saying that creating a sustainable memecoin that will benefit long-term holders is a challenging endeavor.
He also argued that successful memecoins often emerge from community-driven initiatives rather than top-down launches, warning that hype around crowd-backed launches could famously lead to short-term trade rather than fostering an organic community.
Cuban concluded the exchange by acknowledging the importance of community in the longevity of memecoins. He mentioned examples like Dogecoin (DOGE) and Shiba Inu (SHIB), which have thrived thanks to their strong communities.
“I'm not saying buyers don't get rekt. I said it was gambling. It's a game of musical chairs. No guarantees. No pumps with me. Just complete transparency,” he said.
At the time of this writing, the TRUMP Memecoin is trading at $44,778, registering a 14% recovery in the last 24 hours after falling more than 50% from the high of $79 reached over the weekend.
Featured image from CNBC, chart from TradingView.com
