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Kevin O’Leary Sparks a Battle of Cat vs. DOGE While Promoting Little-Known Pawthereum Crypto


Wars between crypto fanbases are to be expected. Just as nearly every electric vehicle (EV) investor has a hard stance on whether they prefer Tesla (NASDAQ:TSLA) or Lucid (NASDAQ:LCID), every crypto bull has an opinion on Ethereum (CCC:ETH-USD) versus Bitcoin (CCC:BTC-USD). But a new, lesser-known animal crypto and its celebrity endorser are stirring up trouble with the pupcoin camp. Pawthereum (CCC:PAWTH-USD) is a token promising to help animals in need. Kevin O’Leary is its most famous backer, and he is taking on Dogecoin (CCC:DOGE-USD) in his bullish tweet on the Pawthereum crypto.

Kevin O'Leary smiles at an event
Source: Shutterstock

Shark Tank star and well-known crypto fanatic Kevin O’Leary is causing a ruckus on his Twitter account this morning. The celebrity investor is making public his affinity for the new Pawthereum crypto, an animal coin which launched at the end of October. In doing this, O’Leary is also taking jabs at the Dogecoin community.

O’Leary is calling out Dogecoin for its lack of charitable action for animals, even as it uses an animal theme. The tweet, which features largely unprompted digs at Dogecoin, bullishly advocates for PAWTH. O’Leary says the Pawthereum crypto benefits the cat community.

Naturally, the Dogecoin community is clapping back at O’Leary for pumping what they deem to be a “shitcoin,” crypto lingo for a currency that lacks any meaningful value. O’Leary’s response to this, in which he employs an ad hominem attack on the user, is also drawing the ire of a figure meaningful to this debate: Billy Markus.

The Pawthereum Crypto Gets Attention From Spat Between Kevin O’Leary and Dogecoin Founder

Markus, one of the two founders of Dogecoin, is responding to O’Leary’s tweets. And as it turns out, he doesn’t have much to say about PAWTH that’s very nice. Beyond calling to O’Leary’s attention that Dogecoin does in fact rally around charitable action, Markus is also calling out the tokenomics of the Pawthereum crypto, much to the chagrin of its bulls.

Pawthereum, unlike Dogecoin, doesn’t rely on its users feeling charitable to find funds to donate. Rather, the Pawthereum white paper explains that a 2% tax on transactions of PAWTH goes to a charity wallet address. Users decide where to donate the money each month, and users automatically fill the wallet through the systemic fees.

Some users will like that the system ensures donation each month, so long as users are trading the token. Obviously, O’Leary and Markus stand at odds on this opinion. Markus is responding to O’Leary’s critiques of the Dogecoin ecosystem by slamming Pawthereum’s method of sourcing donations through what he calls “a hard-coded tax.”

The Pawthereum community is showing its strength just weeks after launch with its massive response to Markus. Users are calling Markus’ comments “FUD,” meant to sow negative emotions toward PAWTH. Other users are lauding the charitable contributions the network is already allegedly making.

As this spat takes place between crypto influences, PAWTH is seeing some interesting action. Trading volume in the token is up over 50% from yesterday. Meanwhile, the price of the token is dropping nearly 8%.

On the date of publication, Brenden Rearick 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.

Brenden Rearick is a Financial News Writer for InvestorPlace’s Today’s Market team. He mainly covers digital assets and tech stocks, with a focus on crypto regulation and DeFi.

Article printed from InvestorPlace Media, https://investorplace.com/2021/11/kevin-oleary-sparks-a-battle-of-cat-vs-doge-while-promoting-little-known-pawthereum-crypto/.

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