Dogecoin creator Billy Markus is having a hard time dealing with the backlash on online social media platforms. He recently took to Twitter to tell the Shiba Inu investors to stay away from him. He clarified that he has only created one meme canine cryptocurrency called Dogecoin and has nothing to do with the other top dog in the crypto market. Markus also told his followers that after creating Dogecoin 8 years ago, he has sold the rights of the project and does not have any involvement with it anymore.
It seems that after the recent price crash of the Shiba Inu token, the frustrated investors have taken to the proverbial streets on social media in a search for the culprit. However, the technical analysis of the crypto market indicates that it is Shiba Inu investors who decided to liquidate their reserves to take out a profit that resulted in the 51% price correction.
Edward Snowden has Warned Investors about Meme Coins
The Shiba Inu investors have ignored the most important traits of choosing a viable investment prospect. There are several stories roaming around the internet about people becoming the new meme token millionaires. However, former CIA employee Edward Snowden recently warned investors about the volatility of the crypto markets and the unreliability of the meme cryptocurrencies.
Snowden is also not a big fan of Dogecoin for the same reason. He exclaimed in a tweet a few days ago. According to him, there is a lot of financial risks involved with the meme cryptocurrencies as they do not have any real use case. Markus has said that he has removed the contact form from his website because Shiba Inu investors were spamming his inbox after pocketing losses from their investment.
Dogecoin’s co-founder is trying to clarify his position in front of the Shiba Inu investors. He has made it public once again that he sold the rights of the Dogecoin project in 2015 because he wanted to purchase a used Honda Civic at the time. Another co-founder associated with the project is Jackson Palmer, who also severed ties with Dogecoin and did not approve of the cryptocurrency market.
Palmer, a software engineer hailing from Australia, is a severe critic of cryptocurrency trading, and he also made some shocking remarks in July about this topic. His tweet went viral on social media when he claimed that the cryptocurrency market is controlled by a criminal cartel that wants to collect money from vulnerable and naïve investors. Palmer also branded Tesla CEO as a grafter when he introduced Dogecoin on Saturday Night Live.