USD
Home > Information news > Dogecoin Dev Issues Major DOGE Alert: Here's What Happened

Dogecoin Dev Issues Major DOGE Alert: Here's What Happened

Release: 2023/08/02 20:00 Reading: 817

Original author：U_Today

Original source：https://coinmarketcap.com/community/articles/64ca42ff5415906c529b6c00

The Dogecoin community has been put on high alert by one of its esteemed leaders and contributors, known as Mishaboar. In recent developments, the developer issued a crucial warning to fellow Dogecoin enthusiasts, urging them to exercise extreme caution amid the proliferation of numerous tokens carrying the DOGE name on various chains.
These tokens, however, says Mihaboar, have no affiliation with the genuine Dogecoin and are instead creations of scamming teams. Mishaboar's alert highlights that these scammers are employing deceptive tactics, including locked liquidity, renounced contracts and supposedly "unanonymous" teams, to lure unsuspecting investors.

One particular concern is the use of a large decoy wallet by these scamming teams, which creates the illusion of not participating in dumping activities. In reality, they secretly sell their tokens through numerous smaller wallets that they either airdrop to themselves or acquire cheaply via whitelists before promoting the token.

Inverse development

Interestingly, the proliferation of DOGE imposters appears to coincide with rumors about the integration of Dogecoin into Elon Musk's X platform. The tech entrepreneur's plans to transform Twitter into a super app with functionalities akin to an investment bank have been widely discussed.
The recent acquisition of licenses for money transfers in three U.S. states has fueled speculation that X might integrate Dogecoin for payments. As usually happens in the crypto space, where there is hype and attention, there are scammers. The recent case of XRP and Ripple is a clear example of this.
Previous：Bitcoin Rebounds on MicroStratergy’s Future Plans, While ADA, XRP, BNB & DOGE Turn Green Next：Litecoin Halving Event: LTC Price Prediction Post Halving, Here’s What Traders Can Expect

Recent news

MORE>>

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.

Selected Articles

More>>