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Binance CEO Changpeng Zhao Says he Doesn’t Understand Meme Currencies like Dogecoin, But They Show the Power of Decentralization


Many ups and downs are going on in the crypto world, leading many financial leaders to show some interest in this. Moreover, reporters are indulging themselves in capturing this inconsistency going on. Recently, news has come up regarding this. Changpeng Zhao, the CEO of Binance, claimed that he doesn’t understand meme tokens like Dogecoin and Shiba Inu. Furthermore, he told the Associated Press, nevertheless, that these examples show the value of decentralization.

Moreover, he adds that “there are a lot more meme coins in our collection. What’s more, guess what? It only takes one other person to desire to acquire something to make it valuable “. CEO Changpeng Zhao acknowledged that while he doesn’t “perceive” any more meme tokens. Two meme tokens are pretty standard in this world, and tose Dogecoin and Shiab Inu Coin. Furthermore, he shows some light on how the demonstration process works for these two good crypto tokens. He adds that these two meme coins consume decentralization, and almost all countries work for this.

However, some people can’t believe that the CEO is telling the truth. For this, he says that “To be honest, I have no understanding of Dogecoin. However, this demonstrates the strength of decentralization. What I believe may or may not be relevant, “According to the Associated Press, he said. “It has value if a significant enough number of individuals in the community value it because it’s charming and they like the meme.”
According to him, these meme coins are the only objects which are consuming attention from investors.

More clearly, meme currencies have grown in prominence as regular investors shift their focus to younger, lesser-known coins, which have become notorious for their explosive increases compared to more established assets. Well, the newspapers are filled with the variations going on in the prices of cryptocurrencies. Dogecoin, for example, has increased by 4,936 percent year to date, whereas Shiba Inu has increased by 63,870,000 percent. On the other side, Bitcoin increases by 108 percent as the year’s commencement, while ether has risen by 474 percent.

Later on, the CEO adds that Dogecoin has been around for a long time. It’s gone up and down, but it’s endured,” the executive told the Associated Press. “Now we have Shiba, which is a meme coin as well.” There are a lot more meme coins in our collection. What’s more, guess what? It only takes one other person to desire to acquire something to make it valuable.” He displays the trend going on in the crypto world. He says that this kind of variation has been going on for the past few years.

He reveals that, in December 2013, Dogecoin was launched to become the “fun and friendly online money.” However, there comes the new cryptocurrency in August 2020 named Shiba Inu Coin. Moreover, it breaks free from “rigid societal structures and archaic beliefs.” According to the reports, the CEO himself has claimed that many views of meme coin tokens are considered a joke. However, these are the only objects which used for making exchanges in this financial world. Following the meme token’s remarkable ascent this year, crypto exchange Gemini welcomed Shiba Inu Coin on its platform this week, joining Binance, Coinbase, Public, Crypto.com, and eToro, among others.

Well, he concludes the session by saying that “You need a significant number of individuals to desire to purchase or sell something for it to have liquidity,” Zhao explained. “A product has worth if it has liquidity, according to the impartial market. As a result, it is not up to me to pass judgment.”


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