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
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