Dogecoin isn’t a security and is more decentralized than Bitcoin says Metallicus CEO

Hayner, in an interesting demonstration, showed that Dogecoin wasn’t designed to generate enormous quantities of money.

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The coin’s creators, Jackson Palmer, and Billy Markus use Dogecoin for smaller-scale jobs like buying used vehicles and planning parties. Additionally, he said that the meme-coin lacks a Genesis wallet and a sizable central money pool in comparison to other cryptocurrencies.

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When questioned about why the US Securities and Exchange Commission (SEC) failed to investigate the meme coin, he said that dogecoin is similar to bitcoin (BTC) and has a vibrant community.

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The United States Commodity Futures Trading Commission (CFTC), one of the leading regulators, has classed bitcoin as a commodity.

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The development team didn’t anticipate DOGE to rank among the top 10 cryptocurrencies, says Hyner. Now that the meme “cannot be stopped,” he believes the coin has a chance to finish in the top three.

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