The creator of DOGE, and the originator of the first memecoin Billy Markus slammed altcoin creators for desperately trying to profit from baseless projects.
Altcoins have dwindled down ever since NFTs came out, and made it easier for creators, or scammers, to push out their artwork and vision for better or worse. However, Dogecoin carries an interesting backstory and is probably the most respected altcoin, with influential people like Elon Musk and Mark Cuban always hyping it up.
With that being said, some people believe that they too can achieve the same success that followed Dogecoin by creating their own meme-based digital assets, and attempting to bring hype to their beloved coin.
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Such projects have followed influential people related to Dogecoin for years, trying to bring their own memecoins to the attention of successful entrepreneurs like Elon Musk. This infuriated the creator of DOGE Billy Markus, highlighting the vices that stand behind promotions of all the new memecoins.
He goes on to remind everyone that Dogecoin was created as a joke almost a decade ago, with no intention of becoming successful; quite the opposite actually, to make fun of literal scam coins that had no means or intentions of becoming legit assets.
With the new non-fungible token craze blowing memecoins out of the water in terms of profitability and success, nowadays social media posts by celebrities that involve NFTs are plagued by various counterfeit projects with copies of the original collections like the Bored Ape Yacht Club and creators trying to make a quick buck off the hype.
Sadly, investors usually get drawn in by colorful and insightful road maps, thinking that the NFT project is legit, which later turns out to be the good ol’ rug pull.