Dink Doink (CCC:DINK-USD) is the latest crypto scandal with Logan Paul’s sketchy ties to the scam cryptocurrency.
Here’s everything crypto traders need to know about the Dink Doink crypto scandal.
- Let’s start with what the crypto is good for, which is absolutely nothing.
- Dink Doink is purely a meme crypto token that has no other use than to be traded.
- Transactions include a 10% fee with 5% being distributed to holders and the other 5% going to the PancakeSwap liquidity pool.
- The creators of the token boast that there is a max supply of 10 quadrillion tokens.
- The market cap is $1.7 million and there are under 10,000 addresses connected to it.
- All in all, there’s not much reason to take Dink Doink seriously.
- So how does Logan Paul play into this?
- He’s been talking about the crypto on social media in what some believe is an attempt to pump up the price of the digital asset.
- Even with these attempts, the crypto hasn’t been doing well with little in the way of positive movement lately.
- It’s worth noting that Paul presents himself as a third-party investor in Dink Doink, but that may not be the case.
- Coffeezilla, a YouTuber that often points out crypto scams, believes that Logan Paul is the creator of Dink Doink.
- He points to an interview with the Dink Doink CEO saying as much to back up this claim.
DINK is up 12.4% over a 24-hour period as of Monday morning.
Crypto traders looking for more recent news in the space will want to keep scrolling!
There’s loads of crypto news to talk about lately as the digital assets continue to be a hot topic for traders. That includes the latest concerning Polygon (CCC:MATIC-USD), Polkadot (CCC:DOT-USD), and Dogecoin (CCC:DOGE-USD). You can catch up on the latest news about these cryptos by following the links below!
More Monday Crypto News
- Polygon Is an Altcoin That Will Emerge a Long-Term Winner
- Polkadot Can’t Even Keep Up With the Original Meme Coin
- Wall Street Thinks Dogecoin Is Dead, But These 3 Cryptos Can Live Forever
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.