Cybersecurity expert Edward Snowden, who became famous after revealing the National Security Agency (NSA) surveillance program, To Shiba Inu (SHIB) joined the chorus of critics who warned against it.
In a recent tweet, the former National Security Agency adviser warned his followers not to invest their hard-dig money in a “dog money clone.”
“I say this with all sincerity:
If you’ve been persuaded to trade your hard-earned savings for new dog money because an internet meme is promising you wealth, please carefully re-evaluate the possibility of shrewdly outsmarting a market that sells you stock *not even as dog money, but as a clone of dog money*. ”
i say this with love:
if you got talked into exchanging your hard-earned savings for some new dog money because a breast said you’d get rich, please carefully consider your odds of outsmarting a market that sold to you its stake in *not even dog money but a CLONE of dog money*
— Edward Snowden (@Snowden) October 31, 2021
Snowden believes that investors of the Dogecoin rival crypto asset are highly unlikely to beat the market.
Don’t Invest Your Money in Dog Coins
The “Dogecoin killer” has been making a tremendous amount of buzz lately with its stunning gains. The quirky cryptocurrency has risen 770 percent this month, making it one of the top 10 cryptocurrencies by market cap.
On top of that, Shiba Inu even challenged Dogecoin’s dominance earlier this week, earning the title of the biggest meme cryptocurrency on the market.
Confronted with a member of the community during a discussion on this topic, Snowden said he has no problem with people buying “garbage”; however, he said he was concerned about people who could be manipulated into “mortgaging the house” to buy the Shiba Inu.
Snowden’s Sunday comments echo those made by Tesla CEO Elon Musk. As previously reported by KoinFinans, the billionaire believed to be responsible for the dog coin craze tweeted that he had bought some crypto just out of curiosity, telling his followers not to put too much hope on the speculative asset class and crypto.
While the number of people who oppose meme coins continues to grow, the Shiba Inu-themed coin craze continues. Following the 770 percent rise of the Shiba Inu, Dogelon Mars also rose 270 percent last week, capitalizing on the hype around meme coins.