The co-founder of YouTube, Steve Chen, has shown his backing for Pajamas, a meme coin developed on the Solana blockchain. Established as a tribute to one of YouTube’s classic cat videos, this project has garnered a value exceeding $20 million since its launch in mid-March.

Chen’s Involvement in Pajamas Memecoin

Pajamas, gained traction by evoking nostalgia and immortalizing the story of The First YouTube Cat, as endorsed by Chen. By championing this meme coin, Steve Chen is advocating for the wider usage of Solana’s scalable blockchain technology and helping elevate Pajamas in the competitive world of cryptocurrencies.

This endorsement is set to attract a wave of new investors to Pajamas and the broader Solana community, showcasing the trend of prominent tech personalities embracing cryptocurrency innovations.

Steve Chen, who previously uploaded a video featuring his cat Pajamas dancing to a Nick Drake song, has been actively supporting the memecoin project since its inception. Notably, he has dedicated a significant amount of time each week to the development and promotion of Pajamas.

Steve Chen’s Venture Into Crypto

Steve Chen’s involvement with Pajamas and the crypto space stemmed from community engagement and his existing tech investments. His decision to invest in the meme coin was influenced by numerous mentions and tags from users on the X platform.

Chen has highlighted the challenges of trust he encounters in the cryptocurrency realm. He expressed concerns about potential scams and attempts to extort money, emphasizing the need to exercise caution in his interactions within the Web3 environment.