Dogecoin Insider Warns Against IP Claims by Memecoins

Maxwell Mutuma
April 27, 2024 Updated June 21, 2025
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Highlights

  • Mishaboar warns about meme coins claiming intellectual property rights.
  • He urges the Dogecoin community to remain vigilant against these tactics.
  • Dogecoin's market value has dropped by 1.86% in the last 24 hours.

Mishaboar, a key figure in the Dogecoin (DOGE) community, has issued a warning about the dangers of memecoins claiming intellectual property rights. In a recent statement, he stressed that memecoins cannot be controlled through ownership of intellectual properties. He explained that memes thrive on their decentralized and viral nature, accessible to everyone. This advice serves as a crucial reminder to the community amidst a surge in meme coin offerings.

He further criticized the strategy employed by some tokens, which claim to possess intellectual property to entice investors. Mishaboar described such claims as mere tactics to attract buyers without substantial backing. He urged the Dogecoin community to remain vigilant and skeptical of such misleading promotions.

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Risks of IP Ownership in Memecoins

The Dogecoin community member highlighted the proliferation of meme coins in the market, each competing for investor attention. He warned that many of these coins use the allure of intellectual property ownership as a hook to draw in unwary investors. This could lead to potential risks for those needing to research their investments diligently.

Mishaboar emphasized the importance of understanding the nature of the investments and the strategies used by these coins to market themselves. By doing so, investors can protect themselves from possible scams and financial losses. His warning is aimed at encouraging a more informed and cautious approach to investing in rapidly multiplying memecoins.

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Dogecoin Market Performance 

As meme coins continue to increase, investors need to conduct thorough research, verify the genuineness of these tokens, and not be drawn away by the allure of quick profits. At the time of writing, DOGE price, the first and largest dog-themed cryptocurrency by market cap, was down 1.86% in the last 24 hours to $0.1495. This reflects the general downturn in the cryptocurrency market, which has seen subdued trading activity recently.

Dogecoin’s price has declined for most of the past week, with losses recorded on three out of five days. The reduced enthusiasm for risky assets like cryptocurrencies is partly due to lowered expectations for Federal Reserve interest rate cuts.

Read Also: Ripple XRP Lawsuit Update: Here Are Key Dates On The Horizon

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.