Meme coins are not funny anymore. At the start of 2022, Dogecoin co-founder Billy Markus tweeted that Dogecoin (DOGE) “No Longer Made Me Laugh”.
Almost a year later, Markus’ message remains truer than ever. The joke of dog coins Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON), Baby Doge (BabyDoge), and Samoyed Coin (SAMO) is dead.
As dog-based meme currencies lose their innocent essence, with what Nakamoto describes as “spam advertising”, “ridiculous promises”, and “desperately trying to get Elon’s attention to promote you”, Big Eyes Coin (BIG), is a new emerging meme currency that will bring joy back into the crypto sphere.
Dogecoin Value Flops 91% As Elon Musk Hype Dies
Those who invested in DOGE at the start of 2021 experienced a rollercoaster in the ongoing year. At one point, DOGE reached a market capitalisation of $82 billion, something previously unimaginable for a currency created as a joke.
However, the extent to which this success has been earned is questioned by even holders of DOGE. Following Elon Musk’s insistent endorsements of Dogecoin (DOGE) over Twitter, a Ponzi scheme lawsuit was initiated by DOGE holders against Elon Musk.
A Ponzi scheme is a form of fraud that invites investors to pay for profits from earlier investors with the profits from even more recent investors. Accusers are blaming Musk, among others, for inflating the price of Dogecoin to profit from it.
Shiba Inu’s piggy-backing off Musk…
