Binance CEO says enough number of people makes meme coins valuable
The CEO of the Binance exchange shared his stance on the Meme coins and said that we can’t say black or white about these coins.
Recently Binance CEO Changpeng Zhao appeared in an interview with the ‘Q&A with Associated Press. In the interview, Zhao shared many things about his own experience and believes in crypto.
Binance CEO said that he owns only Bitcoin and Binance coins. And most of the percentage of his portfolio is part of his Binance coin holding.
On the matter of the meme coin, in particular, Dogecoin, he is not able to understand. According to Zhao, Dogecoin is an advantage-based project of Decentralized technology.
In the past, Dogecoin showed huge volatility but now it is stable at a particular range price like other assets. The success of Dogecoin ended up with the creation of new coins like Shiba inu and FLOKI.
As all of us know very well, Developers of the Dogecoin team tried to make Dogecoin better to push toward the use cases. But Zhao said that present use cases and innovations can’t change the basic theme of Dogecoin, for which it was made earlier.
Further, Zhao said that the main reason for the value of Dogecoin is the community. This community works just like if one wants to sell then others should buy, just like a trust system.
“If a large enough number of people in the community values it because it’s cute because they like the meme, then it has value,”
Zhao also said that a large number of people are involved in Dogecoin and these people are responsible for the high liquidity in the market. The Higher the liquidity, the higher will be neutrality.
Further, Zhao was asked whether he thinks that Dogecoin is a bubble then Zhao said that people even call Bitcoin a bubble. But here we can see one most important thing in Bitcoin vs Dogecoin.
In Bitcoin, the price of Bitcoin falls many times but it again surges to an all-time high but here the case is not the same for Dogecoin.
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