Dogecoin Whales Rise Amidst Foundation Dev’s Stark Warning

DOGE Foundation chair dev cautions against hot wallets, drawing attention to the tide of online phishing scams.

Doge on a sea bed with whales surrounding him.
Created by Kornelija Poderskytė from DailyCoin
  • DOGE whales flip one key on-chain signal, confirming bullish breakout.
  • Developer Misha Boar urges followers to withdraw from online wallets.
  • Dogecoin fetches 18.5% monthly gains amid high BTC price synergy.

Dogecoin Foundation Chair Member Misha Boar advised his Twitter audience to withdraw funds from “dogechain dot info,” pointing to the rising number of crypto-related phishing scams. Boar used a recent phishing email as an example of the upsurge of phishing scams. Confirming that .info is the correct address for DogeChain, the dev also noted that “The .com domain has been involved in scam/phishing attempts.”

Dogecoin Dev Deems Online Wallets Unsafe

The Dogecoin Foundation core developer has penned several guidelines on how to get money out of centralized exchanges. Dogecoin holders are urged to keep their crypto funds in a decentralized, physical storage rather than depend on one major company in the crypto space. This brings an extra layer of security and adds the responsibility to find an efficient way to back up private keys and seed phrases. For that, Boar advises to have at least three “good-working backups.”

Two-Week Double-Digit Run Lifts DOGE Back Up

After the Bitcoin ETF developments two weeks ago, DOGE caught the current of the bullish wave. Reaching confluent support at seven cents, DOGE inked another 4.20% in the last 24 hours to trade at $0.073585, nearing a monthly high of $0.074 on October 26.


Meanwhile, top DOGE whales have altered the on-chain concentration of large positions to bullish, according to the blockchain analytics enterprise IntoTheBlock. Naturally, this has set an optimistic tone in the crypto community, as pro traders forecast a 50% run according to the Fibonacci retracement tool. For that to happen, Dogecoin (DOGE) has to stand above $0.06846 after going through market correction.

On the Flipside

  • Centralized exchanges drive retail adoption, while Dogecoin has been one of the most mainstream cryptocurrencies since 2021.

Why This Matters

Cold storage devices provide complete control over cryptocurrency assets, not depending on online factors.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.