According to U.Today, Mishaboar, a well-known member of the Dogecoin community, has issued a warning against meme coins that claim to own intellectual property (IP). This warning is particularly important at a critical time when the market is flooded with various meme coins, each vying for investors' attention.
In a statement to the Dogecoin community, Mishaboar highlighted the risks associated with meme coins that claim to own IP. He wrote: "Dear Dogecoin, a word of advice to those gambling on tokens. You cannot create or strengthen memes by owning IP. Memes spread through virality and no one owns them. They are decentralized, unstoppable and uncontrollable." These coins often claim to own certain IP, which can be a strategy to mislead investors.
Mishaboar added a warning: “For those who want to gamble, there are thousands of tokens. When you see tokens that rely on tricks like we own the IP, it’s just bait. It means they have nothing and are just trying to attract new buyers with hot air.”
As the number of meme coins continues to grow, investors may need to conduct thorough research to verify the authenticity of these tokens and not be lured by the lure of quick profits. At the time of writing, Dogecoin, the largest dog-themed cryptocurrency by market cap, is down 0.53% over the past 24 hours to $0.148.
