The Dogecoin community has been hit with a fresh wave of concern following a warning from a core developer about emerging scams leveraging the DOGE name. As the price of the popular meme coin teeters at a critical level, bad actors are reportedly attempting to exploit its brand and dedicated community to push deceptive token promotions.
Dogecoin Developer Flags Suspicious Token Promotions
A pseudonymous Dogecoin developer known as ‘inevitable360’ has sounded the alarm on a rising scam trend infiltrating the DOGE ecosystem. In a recent post on X (formerly Twitter), the developer cautioned against new token promotions that falsely associate themselves with Dogecoin’s mission and reputation.
According to the developer, projects labeling themselves as “tokens” rather than cryptocurrencies backed by independent blockchains—like Dogecoin and Bitcoin—should raise immediate red flags. These tokens often mimic the aesthetic or branding of established coins but lack the technical legitimacy and security infrastructure.
One such suspicious project, “Dogevan,” was specifically mentioned as a potential scam attempting to capitalize on DOGE’s global popularity. Despite growing chatter about the token within the Dogecoin community, inevitable360 made it clear that such ventures have no official link to Dogecoin.
Dogecoin’s Name Used for Fraudulent Gains
The developer expressed concern that these projects may exploit Dogecoin’s widespread recognition, strong community backing, and charitable image to mislead investors. By aligning themselves with the DOGE narrative, fraudulent actors could gain unwarranted trust and funding for illegitimate operations.
Inevitable360 stressed that genuine charitable or community-focused efforts do not require the creation or promotion of new tokens. The warning serves as a stark reminder to the community to stay alert, verify all claims, and avoid engaging with unverified projects.
DOGE Price Outlook: Bullish Momentum Building?
Despite the shadow of growing scam activity, Dogecoin’s price action is showing early signs of a potential reversal. Currently trading around $0.16, the coin is navigating a tough downtrend, yet some analysts believe a breakout may be near.
Crypto analyst Javon Marks has issued a bold forecast, predicting a 200% to 300% surge that could send DOGE soaring to $0.73 or higher. Marks cited a repeating Falling Wedge pattern, a historically bullish chart formation that has preceded major price rallies in past DOGE cycles.
This technical setup, combined with broader market recovery trends, suggests Dogecoin may soon deliver what Marks describes as a “magical bullish performance.” Traders and holders are now closely watching for confirmation of the breakout pattern.
