Users were urged to abandon joke cryptocurrencies — their value may fall to zero

YouTube vlogger Ben Армстронг «href="https://noworries.media/biography/brajan-armstrong/» data-bio-id="3684">Armstrong, known as Bitboy Crypto, shared his opinion on memecoins. In his opinion, all of them, except Dogecoin, will fall to zero in the near future.

Armstrong compared memtoken trading to a game of hot potato. The influencer advised his followers to withdraw their profits: «Don't forget, friends, all memecoins will eventually go to zero, except for DOGE. Withdraw your profits.»

A few days ago, the investor admitted that he had transferred some of his profits from GENSLR and POOH to the DINO token. According to Armstrong, this is the first time he has participated in such «risky and speculative» cryptocurrency trading.

«The rumors are true, haha. I did transfer some of my profits to DINO and I have to be honest with you. This is myfirst time investing in memtokens ,» Armstrong admitted.

Cryptocurrency experts agree that most memtokens are of interest only from a speculative point of view in the short term. An example of this was the BONK coin based on the Solana blockchain, which grew strongly for several days before a large-scale collapse in the asset’s price occurred, causing some investors to suffer losses.

As for Ben Armstrong’s activities, in late March, a group of investors filed a class action lawsuit accusing the blogger of promoting the FTX cryptocurrency exchange, which went bankrupt. BitBoy Crypto is considered guilty of providing false information about the FTX platform and encouraging investment in unregistered securities, which played a crucial role in the growth of the popularity and profitability of Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried's platform. Investors are seeking damages in excess of $ 1 billion.

Last July, BitBoy Crypto urged its viewers to invest in the DOCK cryptocurrency, which turned out to be a fraudulent scheme.