Footprint Analytics · 1 day ago · 7 min read
Dogecoin › Memecoins
Dogecoin (DOGE) co-founder slams the promotion of rival Floki Inu
Billy Markus suggest SlumDOGE Millionaire has ulterior motives in promoting Dogecoin clone Floki Inu.
Crypto influencer SlumDOGE Millionaire tells his 116,000 Twitter followers the next token to blow up is Floki Inu. He added that, for those who missed Dogecoin, $FLOKI represents the “way out.”
I wish you guys knew my heart man. I’m honestly trying to help people make money here and change lives. How many times have I been asked “What’s the next big opportunity for me I missed out on #dogecoin?” and I’ve never really had an answer for them until now. #floki is a way out
— SlumDOGE Millionaire (@ProTheDoge) November 1, 2021
However, Dogecoin co-founder Billy Markus responds by implying the tweet is an undisclosed paid promotion, calling SlumDOGE Millionaire “slimy af” for doing so.
Dogecoin regrets set off the hunt for the next big opportunity
Dogecoin took off earlier this year, posting massive gains, off the back of the WallStreetBets saga. This movement set out to “stick it” to Wall Street shorters of GameStop and AMC stock.
This campaign soon found its way into crypto, with Dogecoin selected as the token to pump. As a result, Dogecoin posted YTD gains of 15,000% at its peak, creating wealth for early buyers. And at the same time triggering purists who claim $DOGE is undeserving of its success.
In short, this period turned investing on its head. In that, it demonstrated that making money in crypto, or for that matter stocks, isn’t necessarily based on picking projects with fundamental strength.
Given Dogecoin’s weak fundamentals, it’s unsurprising that many missed out on the gains. In turn, $DOGE’s success has spawned an enduring search for the next big thing. And according to SlumDOGE Millionaire, it’s Floki Inu’s turn.
The process of crypto wealth creation
In selling Floki Inu, SlumDOGE Millionaire described the project as “a way out” from the pressures of life, which is what some early Dogecoin investors achieved.
However, in response, Markus felt it necessary to wade in by saying there is no “way out.” Instead, Markus said crypto wealth creation comes from getting in early and having a continuous flow of new buyers, increasing the price.
Some would say that this describes a Ponzi scheme. Nonetheless, it’s Markus’ view that there is no magic bullet for crypto wealth creation. Only luck in selecting an overlooked token and then for that token to suddenly blow up.
He added that SlumDOGE Millionaire, and his get rick quick narrative on Floki Inu, is “slimy af.”
“There’s no such thing as a “way out.”
It’s just early people getting richer, later people getting poorer, unless later people have new later people that will get poorer for them to get richer.
Advertising something like “it’ll make you rich” is slimy af.”
He signed off the tweet dismissing any talk of ulterior motives, saying he is genuine in what he says.
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