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


Alex Dovbnya

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

Dogecoin co-founder Billy Markus believes 95% of cryptocurrencies are “scams and trash” in a recent tweet

Some users accused Markus of a lack of self-awareness as he was in fact co-founder of a pointless cryptocurrency that spawned numerous scam coins.

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

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

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However, Dogecoin’s massive bull run was not sustainable. The price is now down more than 87% from its record high.

But 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 Kwon, the controversial Terra co-founder, had to leave the cryptocurrency industry forever.



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