It’s amazing how people want to label any market they don’t understand a “pyramid scheme”. My brother has said this about bitcoin in the past before he educated himself a little.

A pyramid scheme can only last as long as there are new investors paying off existing investors. As soon as that stops, it’s mostly a FIFO scramble to cash out in order to minimize losses, all equity becomes worthless, and the original schemers do a perpwalk. So financial illiterates, please STFU until doge is at $0 and the founder (who deliberately created it as a joke and never marketed it as an investment) is in handcuffs!