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DOGE Co-founder Claims 95 Percent of Crypto Projects Are Frauds

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    • The DOGE co-founder said 95% of crypto projects are fraudulent.
    • His tweet sparked a debate.
    • DOGE fell by 4.5% in the 24 hours after the tale ended, trading at $0.086.

Billy Markus, the co-founder of Dogecoin (DOGE), stated that 95% of cryptocurrency projects are fraudulent, sparking a fiery debate.

He recently stated that the metaverse project of DOGE’s rival Shiba Inu (SHIB) was a hoax. The software engineer has expanded his criticism to the entire cryptocurrency market, particularly to the 95%.

the reason why people think crypto is 95% scams and garbage and most crypto people are assholes is because crypto is 95% scams and garbage and most crypto people are assholes

let’s change that. it starts with you – what you support, and how you behave.

— Shibetoshi Nakamoto (@BillyM2k) May 16, 2022

Markus’ bold claim sparked a lot of debate. Many people think that cryptocurrency is nothing more than a scam, and this latest statement from Billy Markus will only add fuel to the fire.

One example is the drama surrounding Terra’s ecosystem. With the collapse of Luna and UST tokens, billions of dollars vanished from the market and caused financial losses for many users.

However, many individuals believe in cryptocurrency’s long-term potential and think that it has a bright future. Only time will tell what the future holds for cryptocurrency, but one thing is certain – the discussion isn’t over.

The engineer reasoned that his remarks would elicit a response, so he added, “Also, note that the only people who are gonna react triggered and lash out to this tweet are the scammers and a—.”

As expected, the comment section of Markus’ tweet was filled with people trying to prove him wrong. His comments have stirred up a lot of controversies, and it remains to be seen how the community will react.

DOGE fell by 4.5% in the 24 hours after the tale ended, trading at $0.086. Despite this, DOGE is still the tenth-largest cryptocurrency by market cap, with a capitalization of $11.5 billion, according to CoinGecko.

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