- Prominent DOGE core developer spots an impersonating account on X.
- Misha Boar serves new crypto traders key rules to avoid phishing scams.
- #10 Crypto Dogecoin (DOGE) aims to retest $0.10 after 12% monthly gains.
Dogecoin Foundation chair member and core developer Misha Boar has advised new cryptocurrency investors never to share sensitive information with unknown influencers. This comes amid rising numbers of Twitter, Telegram, and Discord bots. Some counterfeit accounts have obtained a verified mark and several thousand followers, only to issue fake airdrops later.
Boar fell victim to an impersonation scam, with a Twitter account with nearly 2,000 followers posing as the developer. In response, Boar called out Twitter’s customer service for lack of resolution.
Breeding Community: DOGE Hits 5M Non-Zero Wallets
The latest on-chain data shows a rapidly growing number of active Dogecoin wallet addresses, which recently hit 168,000, a 100% rebound since March 2022.
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After witnessing a phased market correction, Dogecoin’s global market cap still stands strong at $11bn, while the canine coin aims to retest the $0.10 price range.
At press time, PoW chain Dogecoin is changing hands at $0.078 with a 0.9% drop in the last 24 hours, according to CoinGecko. Despite the 12.6% monthly run, DOGE jumped above $0.10 on December 7, 2022, while February 2023 sent $DOGE back to retest $0.095.
The catalyst for DOGE gearing up to retest the $0.10 resistance is the magnificent surge in trader activity, producing the biggest spike in this on-chain metric since Q1 of 2022.
On the Flipside
- The largest 5,000 Dogecoin wallet holders control over 80% of the circulating supply, which could raise centralization issues.
- Dogecoin developer Misha Boar also deemed online wallets ‘unsafe’, citing the rise of phishing scams and centralization.
Why This Matters
Dogecoin has been the entry point for many crypto enthusiasts globally, so experienced DOGE community members are responsible for smoothly onboarding new investors to the cryptosphere.
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