Warning to Dogecoin Community on Exchange Tokens

The Dogecoin community is being advised to reassess their crypto holdings as Mishaboar, a prominent voice in the crypto space, issues a cautionary warning. This warning particularly concerns those still holding exchange-issued tokens.

The Risks of Exchange Tokens

Mishaboar emphasizes that these assets are not merely risky; they are intrinsically linked to the fate of the centralized entities that created them. These entities primarily exist to generate profit, not to ensure financial security for their users.

Tokens such as BNB, CRO, HT, FTX, BMX, and some stablecoins like BUSD should not be seen as standalone coins within the crypto ecosystem. Instead, they are mechanisms centralized exchanges use to create an illusion of liquidity. This illusion collapses when the issuing entity shows signs of instability.

> “Hey Dogecoin – this is still crucial. Holding ‘exchange tokens’ is riskier than many seem to be able to grasp.
> You take upon yourself risk while inflating an exchange’s nominal but worthless liquidity.
> Never hold long-term these tokens. Swap to fiat, if your exchange allows it.”
> — Mishaboar (@mishaboar) March 25, 2025

When problems arise, it’s often the holders of these tokens who face the consequences, frequently without a full understanding of the risks involved.

Mishaboar’s warning is not novel, nor is it an attempt to induce panic. The risks have not diminished, and the advice remains unchanged: avoid long-term holdings of these assets.

If possible, converting these tokens into fiat is advisable. If that’s not an option, it may be time to reconsider the associated risks, which can be poorly understood or hidden from the average investor.

For Dogecoin holders, this message is an alert rather than a cause for alarm. In a world where financial security relies heavily on understanding one’s investments, such reminders are essential.