According to (Decrypt) reports, billionaire Mark Cuban, the former owner of the NBA’s Dallas Mavericks, is a well-known supporter of Dogecoin (DOGE), the “original meme currency”. However, he recently In the interview, he said he believes each meme coin is a rug pull scam in the making - but that's what makes them interesting.
"Every meme coin is a Rug Pull in the making, right? Because it has no real reason to continue to exist, other than the fact that it's fun," Cuban said in an interview with Rug Radio. Meme coins are a musical chairs game.”
Cuban has been a supporter of Dogecoin, even accepting it as payment for NBA Dallas Mavericks merchandise. He has also claimed that Dogecoin has more application potential than Cardano, the Layer 1 blockchain created by Ethereum co-founder Charles Hoskinson.
In this interview, he discusses the major cryptocurrencies and their alleged advantages, whether it's Bitcoin as a store of value and a hedge against fiat currencies, or Ethereum's smart contract capabilities powering decentralized applications (dapps). But in his opinion, Dogecoin also has its value.
Cuban said: "Then you have Dogecoin, which is more for fun and community, it really depends on where you are. And I support all of them, I see the fun in it, look When it comes to utility, we also see store of value, so it really depends on what you’re looking for.”
The meme coins that Cuban mentioned as potential money escapes may refer to tokens with smaller market capitalizations, such as tokens launched on protocols such as meme currency issuance platforms Pump.fun and Moonshot, because these projects have fewer projects. Backed by key players and companies. Most of these tokens have a rapid rise and fall nature and almost never gain any significant traction. Very few of these coins survive long-term.
Cuban explained: "Part of the meme coin game is timing it to see whether you make money or lose money. It's like flipping a coin; it's like playing roulette. No one is stupid enough to think this is a good investment - Even if they’re all saying on Reddit or Telegram: ‘This is the best meme coin ever, To the moon baby!’”
Although Cuban compared memecoin trading to gambling games, he admitted that he would also pay attention to memecoins and laughed at his own mentality when trading: "'Should I buy some? No, don't be stupid, don't be stupid.'" But you know, it's like flipping a coin and hoping it works out."
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