Dogecoin market capitalization rises to $ 90 billion - warning from famous name

 

Dogecoin market capitalization rises to $ 90 billion

Spencer Bogart of Blockchain Capital claims he is not a real user of Dogecoin.

Dogecoin's market cap has reached $ 90 billion, which is an extremely impressive feat for the cryptocurrency, which continues to be ignored as a joke. It's bigger than Snapchat and Xiaomi now.

Dogecoin became a coin actively promoted by names such as Elon Musk, Mike Cuban and Snoop Dogg in 2021, with a rise of 17,893 percent.

Still, some industry leaders are encouraging market participants to take off their pink glasses and take a sober look at the joke-focused cryptocurrency.

Warning from the famous name

In a recent Bloomberg interview, Spencer Bogart, partner of Blockchain Capital, warned Dogecoin fans that the Shiba Inu-themed coin is not real users and developers.

" You know, it's a functional network, so we're going to give it this credit (it works). However, there are no real users, no developers.

Bogart adds that Doge is the "perfect target" for a "fun guy" like Elon Musk:

He likes jokes. You know he's a fun guy. Doge is the perfect target for this."