- Crypto scam Dink Doink is considered as a no-good cryptocurrency with no real-world purpose.
- Logan has been accused of creating and promoting the coin, pumping its value only to dump it later.
- YouTuber Coffeezilla has come out criticizing the activities of such YouTubers and social media influencers.
The influence of social media personalities on the crypto market is unrestricted and a cause for concern. Recently, Logan Paul, a renowned YouTuber, has been accused of the creation of a crypto scam Dink Doink.
The coin has no real-world usage, and the only thing it is capable of is ‘nothing.’ Any holder of the coin will see a surge in the number of coins he or she has. The coin was created in the month of June this year, and its whole existence is based on a South Park-themed cartoon that stars Logan Paul, Dani, who works as assistance for Logan, along with a character with the name ‘Dink Doink.’
Performance of crypto scam Dink Doink
Dink Doink, upon release, surged by a whopping 40,000 percent. But, the coin has spent most of its time correcting the huge surge in the price. The coin’s volatility was defended in a Tweet by Logan Paul, which can be seen below:
Similar cases have been reported wherein members of FaZe Clan, along with Ricegum, pumped the value of the ‘Save The Children’ cryptocurrency. The influencers were responsible for over-hyping the currency so that it pumps and, thereafter, falls even harder.
Logan Paul behind the crypto scam Dink Doink
This cryptocurrency that was launched in June is a scam because it supports no staking, vaults, etc., and just exists with ten quadrillion tokens as the supply cap. Coffeezilla, a YouTuber, has raised a lot of questions on the involvement of influencers in the crypto industry, and he also raised questions regarding Logan’s position in the case of Dink Doink.
Although, Logan Paul gave the nod to the fact that Dink Doink is a useless and unnecessary token. Coffeezilla has said that it was the CEO of Dink Doink who pointed out that Logan Paul was the one to create the cryptocurrency.