Billy Markus, co-founder of the popular memecoin Dogecoin (DOGE), said the great majority of cryptocurrency projects in the industry are nothing but scams and garbage with no real value to offer.
Although no longer directly involved with the memecoin he helped create, Markus is known for his controversial and often sarcastic comments on Twitter.
He recently claimed that Shiba Inu’s metaverse project (SHIB), considered DOGE’s biggest rival, would be a hoax. Now, the software engineer is expanding his criticisms to the entire cryptocurrency market, more specifically to 95% of this industry.
“The reason people think crypto is 95% scam and garbage and most crypto users are jerks is because crypto is 95% scam and garbage and most crypto users are assholes, let’s change that.it starts with you – what you support and how you behave.
Many projects hurt the market as a whole
For Markus, the way most crypto projects are developed and how most users get involved with this “junk.” end up hurting the entire sector.
The DOGE founder’s controversial new tweet follows the collapse of Terra’s ecosystem. With the collapse of the Luna and UST tokens last week, billions of dollars evaporated from the market, leading to financial losses for many users.
This event has reverberated around the world, further increasing the concern of regulatory bodies, particularly with stablecoins.
The DOGE team has new offers
Anticipating that his statements would have a backlash, the engineer added, “Also keep in mind that the only people who will react and attack this tweet are scammers and idiots.”
In fact, the post has more than 1,800 responses. Many users agree with this thought, while others claim that Markus is being hypocritical. After all, Dogecoin, while being a memecoin, has a market value of billions of dollars. Its success has spurred the creation of several meme cryptocurrencies in recent years.
In this sense, the engineer was always careful to point out that DOGE was created as a joke about the situation of the crypto market. Who, according to Markus, has a multitude of useless projects.
And yet. The Dogecoin team has presented interesting novelties for the industry, such as the possibility of making transactions with the asset offline.
Elon Musk joins the conversation
Considered the main driver of the growth of Dogecoin and therefore meme cryptocurrencies as a whole, Elon Musk responded to the DOGE founder’s tweet with an enigmatic laughing emoji.
This isn’t the first time Tesla’s CEO has spoken to the doge founder on the social network. Last week, the billionaire told Markus that his creation has the potential to become a form of payment around the world.
At the end of the story, DOGE was trading at $0.086, down 4.5% in the last 24 hours. Despite this, the asset remains the tenth-largest cryptocurrency by market capitalization, with a capitalization of $11.5 billion, according to CoinGecko.
