Is every memecoin just a scam? Experts on whether Andrew Tate and Trump are fleecing their followers

‘How do memecoins differ and why do they continue to be popular when so many people have lost money on them?’ Photograph: Jonathan Raa/NurPhoto/Rex/Shutterstock

In November last year, I was turned into a memecoin. Several, in fact.

Someone alerted me that a memecoin called Dork Nerd Geek ($DNG) had been minted with a picture of my face, and it already had a market cap (the total value of all coins in circulation) of $29,000. Twenty minutes later it was $100,000. An hour later it was $800,000.