In a recent tweet, Dogecoin co-founder Billy Markus criticized ApeCoin, which was launched the other day and caught huge hype.

Billy Markus, the co-founder of the popular prank currency Dogecoin, took ApeCoin against him with his post on his twitter account. Markus believes that the introduction of his tokens is detrimental to the NFT field, as they lead to the creation of “toxic” and “hopeless” communities.

According to the Dogecoin founder, the holders of such cryptocurrencies are becoming more and more “repulsive” during their bullish and bearish cycles. Markus used the following statements in his statements on Twitter.

   "sorry, i am not a fan of apecoin, mostly because i think it hurts the NFT space to bring in tokens, as token communities are generally hyper toxic and desperate. as tokens do the hype and crash thing like every token does, often people start to get pretty obnoxious about it all"

   "if you don't agree that's fine and i wish y'all well, but i would appreciate civil disagreement rather than attacking me or dogecoin, since that literally just proves my point about how adding a token to the space leads to toxicity, and toxicity hurts the brand and the NFT space"

The cryptocurrency called ApeCoin (APE) was recently launched by Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) NFT collection, although it was ostensibly created by a decentralized autonomous organization called the ApeCoin DAO to avoid regulatory scrutiny.

Holders of NFTs in the BAYC collection were able to receive the APE token for free on the official website of the cryptocurrency. In addition, it was offered for sale publicly with the listing of this altcoin by giant crypto money exchanges such as Coinbase and Binance.

ApeCoin (APE) rose sharply in the first minutes of trading on major spot exchanges and peaked at $39.40. However, this rise was later followed by an 80% decline.

apecoin ape

According to data provided by CoinMarketCap, Ethereum-based currently continues to trade at around $15.44. The launch of the governance and utility token has also been accompanied by a surge in popularity of BAYC NFTs. The base price of the collection rose to around $300,000 shortly after the token's launch. However, this growth was short lived. It is not yet clear whether the APE token will reach a meaningful level of adoption. Billy Markus also made a statement last month, urging the cryptocurrency community to focus on real benefit rather than hype-driven price action.