Are you familiar with the word doge? If you are an internet community, you will surely know what doge is. Yes, it is a meme with the face of a Shiba Inu dog with some text with various fonts on the background. Usually used as a meme for monologue. Since we all know that it is a meme, we should know that dogecoin are also something not serious (at the first place)
So, what it actually is? Dogecoin is one of a handful of cryptocurrencies that have made news in recent months, receiving a lot of attention due to both price increases and its distinctiveness as a “meme cryptocurrency” with a cult following.
Dogecoin was established as a joke to mock cryptocurrencies enthusiasts and that was inexpensive enough to play with—each coin was worth a fraction of a cent. As the main intention it was established is to make silly jokes and being ridiculous, the dogecoin is usually used to tip any interesting comments on Reddit. However, even play money is money, and a toy cryptocurrency may be converted into real money; the supply of gullibility is vast, if not limitless. So, the Shibes began to fantasize about being wealthy for free, and the hucksters stepped in.
To answer the question that had been brought up on the title, is Doge mama a scam, it is not but there is a case when con artists hacked into the blockchain and makes dogecoin looks like a scam because they conned money from a ‘legit cryptocurrency’. It happened through Ellon Musk’s Saturday Night Live (SNL) event. The con artist seems to have controlled SNL and tricked the audiences and viewers to click a link that they provided to con people’s money. The users were assured by ‘them’ that if they transfer their dogecoin to that link, it will be doubled from the amount they sent. But there was no proof that the money was transferred in such an amount and some users have come out with a statement where no money was transferred back to their account.
But the Doge mama scam incident does not bring it down, instead it has become more famous and used by many. Even though not every place accepts dogecoin as payment method like other cryptocurrencies, there are still some merchants who can accept dogecoin as the payment.
Doge mama are also said to have a better future. They have a strong charitable organization in that they donate to respectable organizations that assist single moms. They also have an excellent plan to build its own NFT marketplace, where users will be able to manufacture and trade NFTs using their DM token. They also have a nice pattern where their currency rose and has been stable for quite a long time.
After all, before investing our money at places that we are not sure about, make sure to read and at least understand their basic information so that we can prevent any inconveniences such as more money losses than the capital amount that had been invested.