Dogecoin (DOGE) Founder Criticizes Cryptocurrencies: 95 Percent Trash!

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Billy Markus, co-founder of the popular prank currency Dogecoin (DOGE), made a number of remarkable statements about cryptocurrencies in a recent tweet. Here are the statements made by Billy Markus.

Notable Statement From Dogecoin Founder

Billy Markus, the founder of Dogecoin (DOGE), the biggest joke currency in terms of market value, took to Twitter to make some statements.

Markus, in his statements on his official Twitter account, stated that 95% of the cryptocurrencies in the market are “fraud and garbage”.

Following these statements by the founder of DOGE, some users accused Markus of lacking self-awareness as he was one of the founders of a meaningless cryptocurrency that led to the emergence of countless fraudulent currencies.

In his defense, the Dogecoin co-founder underlined that he preferred quality over quantity, while saying that the world’s most famous meme coin was made as “satire”.

Launched in 2013, the popular prank currency Dogecoin (DOGE) has gained immense popularity over the past year, although it has seen very little developer activity.

Despite many dismissing this cryptocurrency as a scam, Dogecoin has managed to turn some of its fans into millionaires. So much so that the earnings of Dogecoin investors were mainly supported by Tesla and SpaceX CEO Elon Musk, who dedicated his Twitter account to posts about DOGE.

However, the huge bull run of Dogecoin, which has recorded huge gains in the past, was not sustainable. So much so that as of the time of writing, the popular joke currency continues to trade 87% below its all-time high.

DOGE Outperformed LUNA

Despite being a joke currency though, it performed relatively well compared to Terra’s LUNA, which lost 100% in a few days.

Markus recently tweeted that Terra’s controversial co-founder, Do Kwon, had to leave the cryptocurrency industry forever.