Bitcoin is widely considered to be the first cryptocurrency, but it is far from the only player in the rapidly growing crypto economy. Since Bitcoin was introduced in 2009, more than 18,000 other cryptocurrencies have followed. Some of the most popular include Ethereum, Litecoin, and Cardano.
Bitcoin currently trades at around $40,000 per coin, and there are a handful of other cryptocurrencies that have broken the thousand-dollar threshold. The rest trade for cents – sometimes fractions of cents – but that doesn’t mean they are completely without value. In fact, certain cryptocurrencies are achieving important objectives while simultaneously creating a return for investors.
One of the newest, Marshall Rogan Inu, is best-known in the mixed martial arts community (MMA). Anyone who watched UFC 272 heard it mentioned throughout the event, and it is starting to gain steam as a successful “meme coin.”
What is Marshall Rogan Inu exactly? And why was everyone thanking Marshall Rogan Inu at UFC 272? More importantly, is Marshall Rogan Inu legit?
What Is Marshall Rogan Inu?
There are two key terms to be familiar with if you are interested in Marshall Rogan Inu.
But first, what is a meme coin?
Essentially, in the same way that “memes” are internet jokes, meme coins often start out as a form of satire. The original meme coin, Dogecoin, was created to poke fun at the Bitcoin craze. However, it attracted an unexpectedly large following, which was helped along by attention from Tesla’s Elon Musk.
To date, Dogecoin has gained more than 760 percent since its launch. Dogecoin was followed by derivatives and copycats like Dogelon Mars, Shiba Inu, Doge Dash, and Samoyed Coin.
The second key term – or key figure, in this case – is Joe Rogan, who is known for his podcasts, TV program, and MMA commentary. More importantly, Joe Rogan has a dog named Marshall Mae Rogan. Marshall has a fanbase of his own, as evidenced by his 782,000+ Instagram followers.
So, the meme coin called Marshall Rogan Inu was created, in part, to catch Joe Rogan’s attention and pay tribute for his contributions to mixed martial arts. However, Rogan is not affiliated with the coin and has concerns about the association. As a result, there is talk of dropping Rogan from the name altogether.
Since it was introduced in February 2022, the price of Marshall Rogan Inu has been quite volatile. It is currently more than 80 percent below its all-time high of $0.199.
Marshall Rogan Inu Breaks Out To Mainstream
The MMA community is excited about Marshall Rogan Inu, and that excitement was palpable during UFC 272. Several fighters mentioned the coin by name, and there were frequent words of gratitude for Marshall Rogan Inu’s creators.
Everyone was thanking Marshall Rogan Inu because funds generated from the coin are being used to support fighters. Clearly, MMA is a dangerous sport, and it is easy to get hurt. Not everyone who participates has the means to pay for medical treatment. The team behind Marshall Rogan Inu has funded critical care for a handful of fighters.
Some aspiring fighters can’t even afford the basics required for proper training, like gym fees and transportation. Marshall Rogan Inu has distributed these basics to a number of struggling fighters in an effort to better care for members of the community. So far, the anonymous group behind the coin has contributed more than $800,000 to those in need.
One of the athletes who mentioned Marshall Rogan Inu, Leon Shahbazyan, was paid $1,000 to put the word out about the coin. In addition, he will receive another $5,000 to attend a training camp. Shahbazyan is thrilled to have the opportunities afforded by his association with Marshall Rogan Inu.
As he pointed out in a recent interview, fighters don’t get the same types of sponsors as other athletes, and they are paid far less than peers who hit, throw, and kick balls. Shahbazyan said that this type of financial support will be good for the entire MMA community, including the fans. Fighters won’t have to work as much to get their bills paid, and Shahbazyan pointed out that, “You will see better fights because it will allow fighters to train more.”
What Is A Rug Pull In Cryptocurrency?
There’s another term that you need to know when dealing with cryptocurrency: rug pull. As in, investors getting the rug pulled out from under them by unscrupulous crypto developers.
The con is fairly simple for those who have the technical know-how to build a coin or token. After launch, developers promote the asset, drive up its price, and then vanish with all of the cash.
Rug pulls are becoming increasingly common, no doubt because they are lucrative. In 2020, rug pulls accounted for just one percent of all funds lost in crypto-related scams. In 2021, that figure jumped to 37 percent – a total of $2.8 billion.
One of the most vivid examples of a rug pull scam was the SQUID token, which hit a whopping $2,850 at its peak. Then the rug pull occurred. The token lost nearly 100 percent of its value, and investors were left empty-handed.
As with any investment, the best way to avoid becoming the victim of a rug pull scam is to thoroughly research the project. In addition, a look at the numbers can determine which coins are particularly risky. Three points that can help you identify red flags include volume, liquidity, and diversity of buyers. The smaller the project, the easier it is to commit fraud.
Is Marshall Rogan Inu Legit?
Marshall Rogan Inu has some big MMA names promoting it, including ESPN analyst and former UFC fighter Chael Sonnen.
It is also clear that the coin’s developers are distributing cash to fighters who need help based on testimonials from recipients of the support, which suggests that it is legit. However, Marshall Rogan Inu has some red flags that are critical to be aware of before investing. The biggest is the fact that, for the moment, its creators are anonymous.
The trouble with anonymous developers is that it isn’t possible to properly research the coin before buying. When it comes to cryptocurrency, there is minimal regulation and no way to recoup losses. One of the few ways to determine the legitimacy of a coin or token is the reputation and history of its makers.
Marshall Rogan Inu’s creators are aware that they can’t join large crypto exchanges without revealing their identities and submitting to thorough vetting. It may be wise for investors to wait until that occurs before putting cash into the coin.
The author has no position in any of the stocks mentioned. Financhill has a disclosure policy. This post may contain affiliate links or links from our sponsors.