Top Dogecoin influencer Mishaboar has issued a warning to the DOGE community as they hold DOGE. He explained why they should simply focus on holding the spot crypto rather than using leverage to magnify their holdings. 

Dogecoin Influencer Issues Warning To DOGE Community

In an X post, Mishaboar warned DOGE holders that there is currently a significant push from influencers and possibly former exchange CEOs to promote platforms that allow people to trade with high leverage. The Dogecoin influencer noted that, in an attempt to convince crypto community members, these influencers and KOLs post screenshots showcasing their wins but never reveal their losses. 

Mishaboar claimed that this is a coordinated effort by these platforms, industry insiders, and paid crypto influencers who seek to draw in fresh liquidity from inexperienced crypto traders. As such, the Dogecoin influencer is warning DOGE holders to be careful of this scheme and to avoid losing their money to leverage. 

The Dogecoin influencer reminded DOGE holders that by holding spot crypto, they are already dealing with “explosively volatile assets.” He further remarked that they don’t need to compound that risk by trading derivatives with leverage, as they will almost certainly lose it all. Mishaboar added that it is not a matter of if, but when. 

He again warned DOGE holders to be careful and ignore whatever these influencers are trying

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Author: Scott Matherson