Fashionable YouTuber Logan Paul catches warmth for selling a doubtful crypto sh*tcoin generally known as Dink Doink.
Earlier this month, a number of influencers, together with members of FaZe Clan and Ricegum, had been accused of hyping a pump and dump token referred to as Save The Kids.
Paul’s efforts have triggered an extra dialogue on the function performed by social media celebrities inside the crypto area. Extra so, how meme tokens are at odds with an business striving for credibility.
i ❤️ dink doink https://t.co/QP3SnPJDeS
— Logan Paul (@LoganPaul) July 10, 2021
What’s Dink Doink?
Dink Doink’s tagline is “cartoons, memes, and good instances with the neighborhood.”
Its entire promoting level facilities round a South Park-inspired cartoon that includes Logan Paul, Dink Doink, and a personality referred to as Dani, who’s Paul’s assistant. The roadmap mentions music movies, a film within the works, and “strategic episodes.”
“Dink Doink goals to be the primary ever decentralized media franchise, the place token holders obtain an NFT for each episode that drops.”
DINK is a BEP20 token out there on PancakeSwap. Thus far, the one crypto buying and selling pair out there is DINK/BNB.
In response to Dink Doink, the max provide is 10 quadrillion tokens (quadrillion = 1,000 trillion), the market cap is $1.7 million, and there are slightly below ten thousand addresses in existence.
Value evaluation is restricted as a result of token solely launching in late June. Nonetheless, DINK skilled an enormous close to 40,000% improve in its run-up to an all-time excessive of $0.00000000227726 on June 28.
Since then bears have taken management, tanking the value sharply. Whereas the July 4th weekend noticed some reprieve with stabilization of promoting, final week noticed a continuation of bear exercise, dipping the value to $0.0000000001684 on the time of writing.
From peak to current, that’s a 99.3% drop in two weeks.
The undertaking demonstrates an understanding of its goal market, in rewards for “sitting in your ass and doing nothing.”
Increasing on this additional, Dink Doink transactions entice a ten% charge. 5% will get distributed to token holders in proportion to their holdings. Whereas the remaining 5% goes to the PancakeSwap liquidity pool. There isn’t a data on who controls this pool.
Dink Doink can be extremely lazy. Within the spirit of this laziness, Dink Doink constructed a token that may reward you for sitting in your ass and doing nothing. No staking, no vaults, no bullshit. Simply sit again, calm down, and watch your $DINK bag develop greater and greater!
Dink Doink will get the Logan Paul therapy
YouTuber Coffeezilla, who has posted a number of movies on crypto scammers lately, stated Dink Doink lacks any helpful objective. Whereas the identical might be stated of any meme crypto-token, Coffeezilla raises objections to Paul’s affect on this state of affairs.
Though Paul passes himself off as a random investor who stumbled upon this token, Coffeezilla accuses Paul of making Dink Doink.
“Basically, he presents himself as an however unaffiliated investor on this coin…
Nevertheless it seems that is extremely deceptive as a result of Logan Paul is way from only a man who came upon about this coin like anybody else as a result of in a podcast with the Dink Doink CEO, he stated Logan Paul created the factor.”
Paul has overtly admitted that Dink Doink is, in his phrases, ridiculous and dumb. However like many earlier than have warned, individuals’s free reign to create pump and dump tokens will solely incur better regulatory scrutiny on your entire crypto area.
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