Such honesty! Dogecoin founder denies Dogechain’s bribe of $14M

Yerevan (CoinChapter.com) – Dogechain, a Web3 platform, made headlines in mid-August as the founders tried to “mooch off” Dogecoin (DOGE). However, the Web3 project took it too far when they allegedly asked Doge founder Billy Markus to promote the project’s image for $14M.

Dogechain fails to bribe Billy Markus for $14M

A member of the ‘Doge Army’ with the Twitter handle @RepeatAfterVee, posted the news, praising Markus for his “devotion to the community.”

Dogechain and Dogecoin: what’s the connection?

There is none. Dogechain, seemingly a “layer 2” for the meme coin’s DeFi, NFTs, and games, claimed to give Dogecoin more utility.

However, it is not a layer-2 for Dogecoin at all. Moreover, Doge developers are not involved in the project. Instead, it’s a separate network based on Polygon Edge that has nothing to do with the meme coin.

A Dogecoin representative confirmed the lack of connection with the meme coin or its developing team.

We generally don’t comment on these things publicly because it tends to only amplify attention, but multiple PR/media sites are reporting or insinuating that Dogecoin launched this token or its test network or is closely affiliated with it. This made it necessary to clarify.

commented the developer.

Also read: Memecoin craze drives Dogecoin 15% higher, confirming the return of risk-on sentiment.

Pump and dump?

Meanwhile, the Dogechain project looks like a ‘pump and dump’ scheme, where developers artificially boost the token’s price to liquidate their holdings at a higher price.

After Dogechain announced its upcoming DC token launch, several users posted their findings regarding some 20 billion DC tokens that trace back to the deployer and are now being “dumped on people.”

Another account confirmed the findings, saying that the account received the said 20 billion tokens 10 minutes before launch. Moreover, three days before the token went live. The address received 50 billion DC.