‘Beware Risky IOUs’: Top Dogecoin User Slams ‘Selfish’ ETF Promoters as DOGE Soars 23%

A renowned Dogecoin community member has cautioned meme coin users against individuals and companies seeking to capitalize on the cryptocurrency’s brand. In a post on X, the prominent DOGE user stated that no particular individual or entity can officially represent Dogecoin.

Related: XRP and Dogecoin ETFs To Arrive in U.S. Markets Under SEC’s 1940 Act Rules

Warning: Promoters Are Creating ‘Risky IOUs’

According to the Dogecoin user, most companies pushing for Dogecoin treasuries, ETFs, and loans have one goal — to hold DOGE in their coffers, which would translate to money in their wallets. He believes the DOGE treasury advocates intend to explore the cryptocurrency’s core values, while leaving retailers with “nothing more than a more or less legit, more or less twisted, and always risky IOU.”

In the meantime, the community member also highlighted that the potential aim of institutional investors is to profit from Dogecoin they retrieve from retailers. He alleged these companies would then embark on ventures that contradict the interests of the actual DOGE owners..

DOGE Rally Highlights Conflict Between Ethos and Institutional Interest

Meanwhile, besides institutional investors, the Dogecoin advocate identified “desperate entrepreneurs” and “seedy characters” as another category of players that could seek to capitalize on the Dogecoin brand for personal interests. He described them as figures that would never communicate their original intentions to the public.

Dogecoin is the leading meme coin, boasting a market cap of $27.8 billion, according to data from CoinMarketCap, the cryptocurrency aggregation platform. DOGE is the largest meme coin by market capitalization and ranks ninth among all cryptocurrencies, as posted on CoinMarketCap.

In the meantime, DOGE traded at $0.1836 following a 23% price recovery in the past six days after the cryptocurrency dropped to its lowest price since the October 10 crypto market crash. It is worth noting that DOGE has featured in several ETF applications, while the REX-Osprey Dogecoin ETF, with the ticker symbol $DOJE, began trading on Cboe BZX on September 18, 2025.

Related: Dogecoin Jumps 14% in 24 Hours and 38% This Week Amid First U.S. Dogecoin ETF News and 1B Acquisition Plan