A vocal Dogecoin community member, Mishaboar, has issued a warning to DOGE holders, urging them to stay away from so-called "Earn" programs that promise yield on deposited Dogecoin. In an X post, Mishaboar issued a cautionary message directed to the Dogecoin community.
Dear Dogecoin,For years I warned people against putting their Dogecoin into any kind of Earn program.No matter how this is implemented either: the industry is so profoundly immature and corrupt that the risks will always outweigh the minuscule short term benefits for most…
— Mishaboar (@mishaboar) July 8, 2025
Mishaboar highlighted that any yield offered through these programs comes at a cost, often in the form of increased risk, loss of control and exposure to centralized platforms. He believes that the risks associated with such "earn" programs will always outweigh the minuscule short-term benefits for most users, except for insiders.
Mishaboar highlights the danger of giving up custody of a decentralized asset like Dogecoin, adding that once users hand over their DOGE to centralized lending or earning platforms, they are essentially trading it for "IOUs."
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"You risk losing it all, forever. You do not need yield on already highly volatile assets," Mishaboar stated, reminding the community that handing over custody of their Dogecoin places it in the hands of speculators and market makers.
DOGE price action
At press time, DOGE was up 0.19% in the last 24 hours to $0.17. Dogecoin has stabilized near $0.17, with firm support establishing in the $0.166-$0.167 range. The daily RSI is near 50, indicating a likelihood of consolidation.
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Despite the recent pullback, bullish momentum is probable if key resistance is broken. Crypto analyst Ali recommends monitoring three critical resistance levels for Dogecoin (DOGE): $0.18, $0.21 and $0.36.
Even though retail interest is declining, whale accumulation of DOGE has increased by 112% in the past week.
Analysts say the asset is forming a multi-year cup-and-handle pattern that, if confirmed, could push it as high as $0.75. For now, DOGE is stuck beneath resistance but is showing early signs of bullish reaccumulation at critical support.
