Billy Markus, popularly known as Shibetoshi Nakamoto, the co-creator of Dogecoin DOGE/USD, on Tuesday, gave insights into the marketing strategy employed by meme coin communities.
What Happened: It all started with Markus tweeting out some Frequently Asked Questions, or FAQs, about his role as a meme coin founder.
A Twitter user criticized the meme coin community for promoting their coins aggressively and accusing critics of censorship when blocked.
See More: Top Indian Apps That Give Bitcoin, NFT Rewards
However, Markus defended the tactic by pointing out that it’s a common approach adopted by other meme coins like Shib, Safemoon and Floki.
"It's usual actually, Shiba Inu SHIB/USD, Safemoon, Floki FLOKI/USD , etc. all did the same thing,” he tweeted.
Last week, Marshall Hyner, a member of the Dogecoin Foundation board of directors, said Dogecoin could become one of the top three cryptocurrencies.
Hyner, in an interview with FOX Business, said that Dogecoin's “memetic power” will propel it to even greater heights of popularity.
“I think it’s gonna become one of the top three someday because the thing is, there is this memetic power, and it can’t be stopped, and at the top of all the crypto memes is Kabosu and dogecoin.”
Price Action: DOGE was trading at $0.080, up 1.74% in the last 24 hours, according to Benzinga Pro.
Read More: Bitcoin, Ethereum, Dogecoin Rise Amid Positive Tech Earnings: Analyst Warns ‘Bart Simpson’ Pattern Spells Trouble For Late Apex Coin Buyers
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
