Popular YouTube co-founder Steve Chen is currently in the spotlight open His new support Meme coin based on Solana PAJAMAS, inspired by his beloved cat. The move marks Chen's significant foray into the cryptocurrency space, marking a shift from his previous focus on video technology to the ever-evolving cryptocurrency market.
Chain backs Solana-based Memecoin pajamas
According to trading platform TOBTC, YouTube co-founder Steve Chen supports Pajama, a meme coin based on… Solana Blockchain. This venture, inspired by one of the first cat videos on YouTube from 2005, is currently worth more than $20 million since its launch in mid-March.
As society recognized the nostalgia for bygone times and the need to immortalize them, the symbol gained popularity as the creation story of The First YouTube Cat.
The trading platform then drew attention to Chen's post where he first revealed his support for the memecoin. Apparently, the meme coin is not the only digital asset currently owned by the YouTube co-founder.
By endorsing this meme, Chen is promoting broader adoption of Solana's scalable infrastructure and using his platform to promote pajamas in the cutthroat cryptocurrency market.
This endorsement is expected to attract a wave of new investors and traders to Pajamas as well as larger investors Solana community, which reflects the growing trend of well-known tech personalities embracing cryptocurrency innovations.
TOBTC also noted that Chen's initial upload of his cat pajamas served as inspiration for the Solana-based memecoin. the videowhich was first seen nearly 20 years ago, featured the co-founder's cat dancing to a Nick Drake song.
“This is my cat, Pajama, playing and dancing to Nick Drake,” Chen wrote in the video's description. Although Pajama died that same year, the project still aims to celebrate the cat.
Chen has revealed his commitment so far to supporting the memecoin project since its launch. He emphasized that he was supporting Pajamas by volunteering about 80-100 hours of his time each week.
Steve Chen's path to the world of cryptocurrencies
It is important to note that Steve Chen became an advocate for pajamas and cryptocurrencies after community engagement, in addition to his other tech-related investments and endeavors. He was prompted to invest in the meme coin after receiving over a hundred X's (formerly Twitter) about it from users.
Chen emphasized the lack of trust he has observed since his involvement in the cryptocurrency industry. According to the co-founder, at least one person always warns him against meeting or speaking with any important or powerful figure in the world. Web3 The world he wants to meet. He added: “Every day on Telegram, there are at least 25 new people trying to find a way to steal my money.”
Featured image from Adobe Stock, chart from Tradingview.com