✍️Dogecoin Influencer Issues Alert On Scam Tokens Targeting The Community☑️
🌞The Dogecoin community has experienced phenomenal growth from its days as the first meme token, to recently celebrating its 10th birthday. Dogecoin has been subject to various positives in its lifespan, gaining the support of popular names like Elon Musk, which has helped it climb to the 9th spot in terms of market cap.
🌞Doge’s popularity has given rise to other meme tokens like Shiba Inu and PEPE, which have gone on to build their own ecosystems and garner a support community.
🌞However, the meme token has also been subject to negatives, one of which is dubious actors looking to steal money from members of the community. Several other Dogecoin copycats and scam tokens have appeared over the years, hijacking the Dogecoin tag trademark to encourage people to buy in.
🌞According to Mishaboar, proponents of these scam tokens manipulate X’s algorithm to promote airdrops for their coins. After experiencing a price surge, large holders will dump their tokens and slip away with huge profits, and prices collapse in a few hours.
