Dogecoin Co-Founder Says 95% of Cryptocurrencies Are “Scams and Garbage”


Dogecoin co-founder Billy Markus has slammed the cryptocurrency industry in a scathing tweet

Dogecoin co-founder Billy Markus estimated that 95% of cryptocurrencies are “scams and garbage” in a recent tweet.

Some users accused Markus of lacking self-awareness since he actually co-founded a pointless cryptocurrency that engendered countless scam coins.

In his defense, the Dogecoin co-founder said the world’s most famous meme piece was fabricated as “satire”. Markus emphasized that he prefers quality over quantity.

Dogecoin, which was launched in 2013, gained immense popularity last year despite seeing very little developer activity. Despite many dismissing the coin as a scam, it managed to turn some of its fans into millionaires. Its gains were mainly fueled by centibillionaire Elon Musk, who devoted his Twitter account to posting memes about the coin.

However, Dogecoin’s massive bull run was not sustainable. Its price is now down more than 87% from its all-time high.

Yet, despite being a joke, it has performed relatively well compared to Terra’s LUNA, which has lost 100% of its value in a matter of days. 

Markus recently tweeted that Do Kwonthe controversial co-founder of Terra, had to leave the cryptocurrency industry for good.


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