CNBC host Jim Cramer thinks investors need to “be careful” with Dogecoin (DOGE), even suggesting the meme coin is a security.
In a new tweet, the Mad Money host warns his 1.7 million followers that the popular dog-themed coin may not be all fun and games.
“Please be careful with Dogecoin…It is a security.
It will be regulated. We will find out how many there are and how many are being created each day to make money for the exchanges.”
Billionaire Shark Tank star Mark Cuban questions Cramer’s assessment on Twitter, asking him why he thinks the crypto asset is a security.
Cuban has been a strong supporter of DOGE, arguing in an August 2021 CNBC interview that DOGE was carving out a niche that gave it an edge over other crypto assets.
“It’s a medium that can be used for the acquisition of goods and services. The community for DOGE is the strongest when it comes to using it as a medium of exchange.”
Cramer had yet to respond to Cuban’s by time of writing, though he later issued a prediction that “there will be a wave of money coming from crypto into stocks.”
Dogecoin is trading at $0.14 at time of writing, down nearly 24% in the past week.
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