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Law firm linked to $23M DOGSHIT2 coin amid lawsuit

Law firm linked to $23M DOGSHIT2 coin amid lawsuit

GrafaGrafa2025/02/03 05:40
By:Mahathir Bayena

A memecoin named Dog Shit Going NoWhere (CRYPTO:DOGSHIT2) has gained attention for its connection to a law firm involved in a class-action lawsuit against the creator of the Solana-based (CRYPTO:SOL) memecoin Pump.fun.

At its peak, DOGSHIT2 reached a market capitalisation of over $23 million, although it has since dropped to around $2.4 million.

The lawsuit against Pump.fun was initiated on January 30 by Burwick Law and Wolf Popper, alleging that the platform facilitated unregistered securities sales and earned nearly $500 million in fees.

Observers noted that the wallet address used in court documents to demonstrate the ease of creating a token matches the address associated with DOGSHIT2, leading to speculation about the law firms' involvement in its launch.

Since the lawsuit was filed, DOGSHIT2 has experienced a surge in trading activity and value.

The token was launched in November and has been accompanied by a warning advising potential investors, “Don’t buy this coin.”

Data from Gecko Terminal indicates that DOGSHIT2's market cap spiked significantly after January 31, reaching its highest value of $0.003968 on February 2 before experiencing a 34% decline.

Despite this volatility, the token is currently up 6% in the last 24 hours, according to CoinGecko.

Burwick Law previously sought clients who lost money on other memecoins, including one linked to influencer Haliey Welch.

The connection between the law firm and DOGSHIT2 has raised eyebrows within the crypto community, with some critics suggesting that the firm is engaging in practices similar to those it accuses Pump.fun of facilitating.

At the time of reporting, the Dog shit going nowhere (DOGSHIT2) price was $0.002945.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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