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Dogechain (DC) Price Keeps Surging Amid Scam Accusations

Sun, 08/28/2022 - 18:43
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Alex Dovbnya
The price of the Dogecoin (DC) token keeps surging in spite of mounting scam accusations
Dogechain (DC) Price Keeps Surging Amid Scam Accusations
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Dogecoin (DC) has surged by another 63% over the past 24 hours, according to data by CoinGecko. The token reached yet another all-time high of $0.00338583 just minutes ago.  

Dogechain bills itself as a layer-2 solution that is capable of bringing decentralized applications and non-fungible tokens to Dogecoin users.          

Prominent crypto sleuth ZachXBT noted that a wallet tied directly to the deployer received 20 billion DC tokens and started dumping them on users. As reported by U.Today, Dogecoin co-founder Billy Markus allegedly refused to promote Dogechain for a whopping $14 million. Had he accepted the offer, this would have been viewed as a betrayal by the fans of the meme coin he co-created all the back in 2013.

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The Dogecoin community has been at loggerheads with the Dogechain project for quite a while. Many accuse the layer-2 solution of being a blatant scam whose aim is to convince Dogecoin holders to part ways with their holdings.  

In late July, Mishaboar, a prominent member of the Dogecoin community, posted a warning, which says that Dogecoin is not affiliated with Dogechain, describing it as yet another “knock-off token.”     

In spite of a wave of criticism, the DC token seems to be gaining traction, with KuCoin becoming the first major exchange to list the controversial token earlier this year. The listing fueled a triple-digit rally on Friday.

The team behind Dogechain claims that it plans to organize an airdrop for Dogecoin holders, but details remain scant so far. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at