Billy Markus, the co-founder of Dogecoin, has lashed out at fellow meme coins for looking like a “financial pyramid”. He highlighted that dogecoin was made eight years ago as satire, making fun of the idiotic coins…irony…satire.
Markus believes that current meme coins aren’t even memes. He pointed out that they are being made by people trying to get rich off of other people trying to get rich! Markus says to each their own and added that it is indeed a different thing.
The Dogecoin co-founder said individuals, posing as meme creators with their so-called projects are just trying to get rich on the back of individuals wanting to make some quick or easy profits. Markus claimed that Shiba Inu and copycats look like a financial pyramid.
In a tweet on February 23, Markus (Twitter handle Shibetoshi Nakamoto), highlighted that satire has some mildly clever elements to it. He said jokes are funny. Markus tweeted that, spam advertising, lying about who is involved in a project, making up ridiculous promises, desperately trying to get Elon’s attention to promote the project, etc., are not clever or amusing at all.
He added that in many cases, the digital assets try to grab the attention of Tesla CEO Elon Musk with the hope that he will popularize them with his tweets! Markus admitted that Musk has the power to change the tides in the meme coin space. But then his words and tweets have also had drastic disruptions in the crypto market, crashing prices numerous times.
In November 2021, Markus had called for more utility to projects in an effort to maintain their value long-term. He said hype doesn’t last long, it adds nothing.