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The CEO of Binance says he doesn't 'get' meme tokens like dogecoin, but they demonstrate the power of decentralization
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markets.businessinsider.comREUTERS/Darrin Zammit Lupi
CEO Changpeng Zhao admitted that while he doesn't «get» meme tokens like dogecoin and shiba inu, these demonstrate the power of decentralization.
«To be honest, I don't get dogecoin. But this shows the power of decentralization. What I think may or may not matter,» he told the Associated Press. «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.»
Meme coins have emerged in popularity as retail investors direct their attention to newer and lesser-known coins, which have become popular for their sky-high gains compared to more established assets.
For instance, dogecoin has risen 4,936% year-to-date, while shiba inu has rocketed to 63,870,000%.
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