Dogecoin (DOGE) Scam Warning: Avoid Token Impersonators

A Dogecoin developer warns against promoting tokens that mimic DOGE’s name, cautioning they lack proper blockchain support. Positive developments include a new Dogecoin ETP launch and a potential spot DOGE ETF. Analyst predictions suggest continued price growth for Dogecoin, currently trading at around $0.16.

A Dogecoin developer has issued a warning to the community regarding the promotion of tokens mimicking Dogecoin’s name. With DOGE’s price experiencing a recent upswing, analysts anticipate a potential increase toward $0.29 or even new highs. The developer, known as inevitable360, advised community members to be wary of such dubious tokens, emphasising that they lack their own blockchain, unlike established cryptocurrencies such as Dogecoin and Bitcoin.

The recent caution arises amidst positive developments in the Dogecoin ecosystem. 21Shares has partnered with the House of Doge to launch a physically backed Dogecoin ETP on the SIX Swiss Exchange, providing investors with a transparent way to gain exposure through conventional finance. Furthermore, 21Shares has also sought SEC approval for a spot Dogecoin ETF, indicating growing institutional interest, with a 64% likelihood of approval by the end of 2025.

After a successful week, during which DOGE’s price rose by approximately 20%, the cryptocurrency currently trades at around $0.16 with a market capitalisation of nearly $25 billion. Analysts predict further price actions, with Ali Martinez asserting that closing above $0.17 could lead to gains reaching $0.21 or $0.29 if the vital support level at $0.13 remains intact. Another analyst, JAVON MARKS, expressed optimism for DOGE to achieve a new all-time high soon.