A newly launched meme coin dubbed Pajamas (PAJAMAS) has received the unlikely support of the co-founder of YouTube, Steve Chen.
Chen has revealed to be spending around 80 to 100 hours each week to support the meme coin’s development. PAJAMAS is a meme coin inspired by the first-ever cat video posted on YouTube on May 22, 2005.
PAJAMAS Meme Coin Garners Interest
Chen’s net worth is believed to be well over $1 billion. His growing support for PAJAMAS marks yet another entry by a billionaire into the meme coin space. Elon Musk, Tesla’s CEO, has been an iconic figure in the meme coin industry because he supported Dogecoin.
Chen is now joining the industry through PAJAMAS. Like most meme coins, PAJAMAS draws inspiration from one of the most iconic online moments.
It depicts the first cat video posted on YouTube. The video description for the video says, “This is my cat, Pajamas, playing and dancing to the tune of Nick Drake.”
Solana-Based Meme Coin
The PAJAMAS meme coin was created to depict the video, and it runs on the Solana blockchain. In recent times, Solana has become the central hub for trending meme coins, including DogWifHat (WIF).
As such, having PAJAMAS in Solana is set to draw interest from the Solana community.
Chen was not involved in developing the PAJAMAS during its creation. However, several users have since tagged him on X (Twitter), urging him to buy the token as he was actively involved in YouTube’s growth during its onset.
According to Chen, it was among the few meme coin projects with which he was actively involved in the tech industry.
The YouTube co-founder has worked in other areas, including exchange-traded funds (ETFs) tracking artificial intelligence. He has also made strategic investments in startup companies based in Taiwan.
While outlining his investment in PAJAMAS, Chen also noted that he had also invested in Solana (SOL). The Ethereum rival has garnered much interest among decentralized applications (DApps) because it offers low fees and high transaction speeds.
Chen said,
Without Solana, we wouldn’t have $Pajamas, and it’s $Pajamas that will bring joy to this world. This is so important, especially with all the global problems that we face in 2024.
Pet-Inspired Meme Coins
PAJAMAS adds to the list of meme coins that have drawn inspiration from pets. The Pajamas cat that inspired the creation of PAJAMAS has already died, given that the video in question was filmed around 19 years ago.
Besides Pajamas, another pet known as Kabosu is the inspiration behind Dog-themed cryptocurrencies. However, the Shiba Inu dog passed away on May 24.
Kabosu has been a significant inspiration in the meme coin space, behind the rise of some top meme coins such as DOGE, SHIB, and FLOKI.
