Scams Are Spreading Using Dogecoin! Here's Why Investors Should Stay Alert

The popularity of Dogecoin (DOGE), the original meme coin, has grown massively over the years making it a prime target for scammers. 

With a devoted community and increasing institutional interest, DOGE’s rise has also brought a surge in deceptive schemes. This Dogecoin Scam Alert explores the current risks and offers tips for staying safe.

DOGE Community, Stay Cautious

Dogecoin’s community is one of the most active and passionate in the crypto world. However, this enthusiasm has made it an attractive target for scammers. Recently, a well-known pseudonymous Dogecoin developer known as inevitable360 issued a public warning on X (formerly Twitter), alerting users to suspicious projects posing as DOGE-related tokens.

These tokens often mimic the Dogecoin name or branding to appear legitimate. The developer cautioned that many of these do not have their own blockchains, unlike Dogecoin or Bitcoin. That’s a red flag for potential scams. They added, “If someone really wants to help others or save dogs, they don’t need any token—no matter the excuse.”

This message serves as a vital reminder: if it sounds too good to be true, it probably is.

Read also : Can DOGE Recover? Looking at the Sentiments and Predictions on Dogecoin

Why DOGE-Related Scams Are Rising

With DOGE’s increasing exposure in traditional finance, interest from new and inexperienced investors has grown. This makes it easier for scammers to exploit people unfamiliar with how Dogecoin works.

Just last week, 21Shares partnered with the House of Doge to launch a Dogecoin ETP (Exchange Traded Product) on the SIX Swiss Exchange. The product is fully backed, providing institutional access to DOGE through traditional finance channels.

In addition, 21Shares submitted a filing to the U.S. Securities and Exchange Commission (SEC) seeking approval for a spot Dogecoin ETF. If approved, this would mark a major step forward for DOGE in the mainstream financial market. Analysts estimate a 64% chance of approval before the end of 2025.

Scammers often take advantage of this kind of bullish news to launch fake tokens, websites, and social media campaigns that appear legitimate. They promise early access to “new DOGE products” or giveaways—only to steal funds or personal information.

The DOGE Price Trend Adds Fuel to the Fire

DOGE’s recent market performance adds more fuel to the speculative fire. Over the past week, the Dogecoin price surged nearly 20%, with strong momentum supporting further gains. At the time of writing, DOGE is trading around $0.16, with a market cap just under $25 billion.

According to crypto analyst Ali Martinez, a daily close above $0.17 could drive DOGE toward targets of $0.21 or even $0.29, assuming it continues to hold the key $0.13 support level.

Read also : Analyzing Sentiments: How the Latest Dogecoin ETF Can Help DOGE Go Up

X user JAVON MARKS also shared a bullish view, suggesting that Dogecoin could be gearing up for “yet another magical bullish performance” and possibly reach a new all-time high.

While these price predictions excite investors, they also create a fertile ground for scam promotions. Fraudulent actors prey on FOMO (fear of missing out), urging users to buy shady tokens or participate in "exclusive" DOGE-related presales.

How to Spot a Dogecoin Scam

To stay safe, follow these best practices:

• Verify token legitimacy: Always check if a token is officially associated with Dogecoin. DOGE is the only real Dogecoin token and runs on its own blockchain.
• Beware of lookalike names: Scammers often use names that resemble “DOGE” or “Dogecoin” to confuse investors.
• Avoid unsolicited offers: Be cautious of messages or posts promising giveaways, airdrops, or early access to DOGE investments.
• Use official sources: Only follow Dogecoin news and updates from verified accounts and websites.

Conclusion: Stay Informed, Stay Safe

The Dogecoin community must remain vigilant as DOGE continues to rise in popularity. While institutional adoption is a positive sign, it also increases the risks of scam activity. This Dogecoin Scam Alert serves as a critical reminder: do your research and protect your assets.

As DOGE moves toward wider adoption and possibly a spot ETF, staying alert will ensure that investors don’t fall victim to fraud in the process.

FAQ

How can I tell if a Dogecoin-related token is a scam?

Scam tokens often mimic the Dogecoin name but lack their own blockchain. Always verify the token’s legitimacy through official Dogecoin sources or blockchain explorers. If the project is not endorsed by the core DOGE community or developers, it’s best to avoid it.

Is there an official Dogecoin ETF or ETP?

Yes, 21Shares recently launched a 100% physically backed Dogecoin ETP on the SIX Swiss Exchange. They’ve also filed for a spot DOGE ETF in the U.S., with a potential approval window before the end of 2025. Any other claims of DOGE ETFs should be viewed with caution unless officially confirmed.

What should I do if I think I’ve encountered a Dogecoin scam?

If you suspect a DOGE-related scam, avoid interacting further. Report the suspicious account or website to relevant platforms (like X or Telegram), and notify the Dogecoin community if possible. Never share your private keys or send tokens to unverified addresses.