COINS THAT HAVE FAILED

COINS THAT HAVE FAILED

Dogecoin:

What began as an internet joke grew to be the most popular meme coin. Due to its altruistic character, the cryptocurrency gained popularity. A sizable user base was created, and it eventually transformed into a legitimate coin that could be exchanged. Sadly, the exchange was unexpectedly shut down by the founder, and that was the end of this coin. Dogecoin will be accepted as payment for Tesla items, according to a tweet from Elon Musk. I wish Dogecoin has a bright future.

Space BIT:

Space BIT is another cryptocurrency that has failed. One project that attracted a lot of attention in 2014 and seemed destined for success was Space BIT. The creation of this coin required significant cost, and they even deployed Nano-satellites to ensure that it could be used everywhere in the world. Sadly, despite careful planning, this coin nevertheless failed. Nothing ever came of this effort, and after a period, there was no more mention of Space BIT in the media.

Pay coin:

The demise of Pay Coin was well-known since its creators, John Garza and GAW, were seasoned cryptocurrency specialists and miners. Because they intended to swiftly amass a sizable user base, they hurried the launch of the digital currency and compromised its security, which is what caused this coin to fail.

Get gems:

An additional well-known currency created in 2014 was Get Gems. Because it encouraged the use of electronic means of trade, it quickly became popular. Since most customers were anticipating the arrival of this currency, its success appeared to be a given. Unfortunately, Get Gems flopped horribly, and their popularity has virtually disappeared. Because the creators were unable to keep their commitments, the value of this coin declined.

Squid Game Coin:

Yes, you read that correctly. The Squid Game token was introduced, and the tokens were to be used in a play-to-earn game that was planned to be released and was inspired by the well-known South Korean Netflix series. This coin's price rose from $0.04 on October 27 to $35 on October 31, much like a standard rug pull scam. The creators paid out just before the user base fell to $0.002 on the same day after slowly increasing to a peak of $2,856 on November 1st.

Bogged Finance:

In 2021, the Bogged Finance decentralized finance suite had an almost 100% loss in assets. The demise of this currency, unlike several other cryptocurrencies, wasn't brought on by dishonest creators but rather by malevolent assaults. By employing a flash loan-based assault, an unidentified hacker was able to escape with almost 15 million Bogged Finance tokens and $3 million in BOG's liquidity. Despite efforts to restore BOG after it was wrecked by this assault, the coin's value has remained at $1.

Ekta:

The idea behind Ekta, a failed cryptocurrency, was to link the physical and virtual worlds through the tokenization of genuine items. Ekta began trading in August and peaked in $10.41 before falling below $0.15 as a result of a hostile assault. The coin is not moving right now. Someone with had access to the Pancake Swap and bridge smart contracts was able to hack Ekta in 2021. Just so they can handle it themselves, the team has not disclosed any other information surrounding the event. They intend to resume trade shortly, although they have temporarily paused.