Expert Warnings for the Dogecoin Community: A Closer Look
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Dogecoin Community Alert from Prominent Influencer Mishaboar
Renowned Dogecoin influencer, Mishaboar, has recently cautioned the DOGE community about the potential risks associated with holding DOGE through leveraged trading. In a recent post on X, Mishaboar highlighted the current trend among certain influencers and possibly former executives of exchanges who are advocating for platforms that enable high leverage trading. These influencers often showcase their successes in an attempt to lure in novice traders, but they conspicuously omit their losses.
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Mishaboar asserts that this is part of a coordinated strategy between these platforms, industry insiders, and compensated crypto influencers aiming to attract new liquidity from unseasoned traders. He advises DOGE holders to remain vigilant and avoid these high-risk schemes to protect their investments. The influencer emphasized that by simply holding spot crypto, investors are already exposed to highly volatile assets, and the added risk of leveraged trading could lead to significant losses. Mishaboar stressed that losses are inevitable, it’s merely a matter of timing.
Furthermore, Mishaboar urges the DOGE community to disregard these promotional activities and cease following influencers who might exploit their followers for exit liquidity. He pointed out that these influencers frequently promote new coins, potentially using their audience as exit liquidity after the promotion.
Binance Founder “CZ” Under Scrutiny
In another post on X, Mishaboar appeared to sarcastically comment on the widespread admiration for Binance founder Changpeng Zhao, who is often regarded as a “trustworthy figure” by many on crypto Twitter. This remark preceded his cautionary message about certain “ex” exchange CEOs.
Changpeng Zhao, also known as CZ, has been notably active on crypto Twitter, frequently endorsing the Aster perpetual decentralized exchange (DEX). His advisory role and endorsement are believed to have fueled an increase in leverage trading on the platform, with Aster occasionally surpassing competitors like Hyperliquid in trading volume, revenue, and open interest.
As Mishaboar warns the Dogecoin community, the prevalence of leverage trading is becoming more pronounced with the rise of perpetual DEXs. The total monthly volume for perpetual DEXs recently exceeded $1 trillion for the first time, reflecting heightened competition in the sector.
At the time of this writing, Dogecoin is trading at approximately $0.25, experiencing a decline of over 2% in the past 24 hours, according to CoinMarketCap data.
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