Wednesday, November 30, 2022
HomeCrypto NewsMarketDOGE Fans Beware: Potentially Scammy Site Claims To Have Launched A “Dogechain”...

DOGE Fans Beware: Potentially Scammy Site Claims To Have Launched A “Dogechain” On Ethereum Network

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“Dogechain” On Ethereum Network has nothing to do with Dogecoin.



A few hours ago, a post appeared on Reddit alleging that the Dogecoin community has launched a “Dogechain” that is supposed to operate with DOGE being used as gas. However, it now appears that this may not be entirely true.

According to the post, the chain currently supports various top meme coins, including DogeEatDoge, DogeBurn, and DogeTools. The chain is alleged to have been launched on the Ethereum blockchain. Also, DOGE fans on Reddit didn’t seem to be the least convinced by the post, with a lot of them saying that it’s false. It’s a good thing that the Dogecoin community is smart.

But top influencers, Like Lark Davis are also posting about dogechain which is a concern for the community.

 

What The Chain Site Says

Interestingly, a website that’s alleged to belong to Dogechain launchers doesn’t seem to inspire a lot of confidence in what it claims to offer the Dogecoin community. It claims to offer cheap and fast transactions, DeFi functionality, and NFT support – besides using Doge for gas payments on the said chain.

Dogecoin has been one of the most popular dog-themed meme coins in the crypto market. The coin has attracted a huge fanbase, even winning support among some top bigwigs like Elon Musk. That said, it’s almost natural that such a popular coin would attract the attention of unscrupulous bad actors that may attempt to capitalize on its popularity to defraud people.

DOGE Has Zero Connection With Dogechain

Following the Reddit post, various crypto entities, major Dogecoin fans, and influential figures came out to provide clarification on the matter. It turns out, “Dogecoin has nothing to do with Dogechain.” According to a recent Twitter post by Doge Whisperer, an entity furnishing the Doge community with news and facts about the ecosystem, no one from the doge community is affiliated with Dogechain.

“Dogechain has nothing to do with Dogecoin. It’s a bridge that currently leads to the unknown with many risks & red flags. I’ve been here for a while & no one in the Dogecoin community (that I know of) is affiliated. That’s my current stance, however I’d love to be wrong. Careful.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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