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MEME coin BALD raises funds and sparks discussion? Justin Sun tweets: Can we create an absolutely secure "Shiba Inu"?

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MEME coin BALD raises funds and sparks discussion? Justin Sun tweets: Can we create an absolutely secure "Shiba Inu"?

On the morning of August 1st, Justin Sun, the founder of TRON, seemed to express his feelings through a tweet after the meme coin BALD gained popularity and then staged another classic rug pull in the cryptocurrency circle. He asked, "Is it possible to create an absolutely safe meme coin?"

BALD, the "Coinbase Official Token" in the eyes of speculators

Earlier reports indicated that the public chain Base under Coinbase recently experienced a meme coin frenzy, with tokens like BALD, Optism, TOSHI, Twitter, and SHIBFLOKI all seeing gains of tens of times over the weekend, with BALD surging more than thirty times in a single day.

However, about two days later, the deployer of BALD promptly withdrew all token liquidity, pulling out over 10,500 ETH, approximately $20 million worth of liquidity, causing BALD to plummet by over 80%.

BALD, once speculated to be the "Coinbase Official Token" in the community, once again fell victim to a Rug Pull.

Justin Sun: Open Source, No Rug, Fair Shiba

These events prompted Justin Sun to express his thoughts, asking the community if it is possible to develop an absolutely secure Shiba project.

Shiba is a well-known term in the cryptocurrency community, often used to describe projects with no technical substance, characterized by:

  • Anonymous team

  • Domestic project

  • Copying or forking from currently popular projects

  • Extremely high risk, with the team almost always ending in a rug pull

Justin Sun emphasized that TRON is a public chain with higher adoption of USDT, native tokens like TRX, and coin exchange protocols like Swap in the DeFi ecosystem. He hopes that everyone can provide feedback to make TRON the most friendly public chain for the development of Shiba projects.