A vocal member of the Dogecoin community, Mishaboar, warns holders of the token against participating in Earn programs that promise returns on DOGE deposits. He emphasizes the associated risks.
Warning about Earn Programs
On platform X, Mishaboar addressed the Dogecoin community, warning against putting their funds into Earn programs. He has been cautioning people for years about the dangers of such schemes, emphasizing that the risks always outweigh the minuscule short-term gains.
Risks and Consequences
Mishaboar noted that participating in these programs can lead to significant losses. By placing DOGE on centralized platforms, users are essentially trading it for 'IOUs,' putting their assets at risk. He added: 'You risk losing it all, forever. You do not need yield on already highly volatile assets.'
Current DOGE Price Dynamics
At the time of writing, DOGE's price has increased by 0.19% in the last 24 hours, now standing at $0.17. Analysts note that the asset shows early signs of bullish reaccumulation at critical support levels, despite declining retail interest.
Given the significant risks associated with Earn programs, Dogecoin holders are advised to carefully assess their activities and make informed decisions. Participation in such schemes can lead to substantial losses.
