Dogecoin Rip Off Turns Out to Be a Soft Rug Pull: Teddy Doge Details
Did a Dogecoin-inspired project rug pull its investors? The answer, unfortunately, appears to be yes. Reports are surfacing detailing a significant drop in value and accusations of a "soft rug pull" involving Teddy Doge, a cryptocurrency seemingly riding on the coattails of the original Dogecoin\'s success.
Teddy Doge: A Soft Rug Pull? What Happened?
Blockchain security firm PeckShield alerted users to a potential "soft rug pull" executed by the Teddy Doge developers. According to PeckShield, the developers allegedly made off with a substantial amount of investors\' tokens, estimated at $4.5 million. TeddyDoge [TEDDY], a coin inspired by Dogecoin, experienced a dramatic pump and dump, leaving many investors with significant losses. The firm noted that TEDDY plummeted by a staggering 99.4 percent.
Understanding the "Soft" Rug Pull
So, what is a "soft" rug pull? Unlike a traditional rug pull where the project shuts down entirely and the developers disappear with the funds, a soft rug pull involves the developers subtly manipulating the market to their advantage. Developers can simply dump the token, making their victims hold the bag. This is known as a “soft” rug pull, which is exactly what happened with Teddy Doge. The price of the cryptocurrency was pumped and dumped by the deployer of the token.
Dogecoin vs. Impersonators: A Cautionary Tale
The OG Dogecoin managed to vault into crypto stardom in 2025 (assumed date) along with its rival Shiba Inu, thanks to a push from Tesla chief Elon Musk. However, the success of Dogecoin has spawned numerous imitators, like Teddy Doge, seeking to capitalize on the meme coin\'s popularity. According to blockchain security firm PeckShield, the project is a “soft rug pull.” The person behind the rug pull got away with a substantial sum.
It\'s crucial to differentiate between established cryptocurrencies and newly created tokens, especially those heavily inspired by existing ones. Any crypto can crash, and pretty much every single one has multiple times in their lifetimes. But a rug pull is distinct. According to recent data compiled by PeckShield, TeddyDoge [TEDDY], a coin inspired by Dogecoin, encountered a pump and dump. The firm noted that TEDDY dropped significantly. One of Dogecoin\'s most infamous impersonators, Teddy Doge has been accused of Rug Pull by blockchain security firm PeckShield.
Can Dogecoin Be Rug Pulled?
It can\'t be rug pulled as there aren\'t any investors in it. There are whales that could sell but no rug pull. We also know who the developers are so it\'s just added security. We can\'t rug dogecoin. Dogecoin is also 8 years old. Rug pulls happen from new tokens. While Dogecoin is subject to market fluctuations and price volatility, it is generally considered more secure due to its age and established presence in the cryptocurrency market.