Dogecoin founder says crypto investors are clueless while DOGE price crumbles under pressure - Aliens: AI Crypto News & Markets Updates












Dogecoin founder says crypto investors are clueless while DOGE price crumbles under pressure

FX Street

Thu, May 19, 2022


Aliens TLDR

Billy Markus, the co-founder of Dogecoin, believes at least 70% of crypto investors are clueless about fundamental basics and how the market works.

Analysts note Dogecoin’s recent pullback and identify a technical pattern that could push DOGE 15% higher if it plays out.

Dogecoin’s co-founder advises crypto investors to perform actual research and stay informed about their crypto investments.

While the meme coin crumbles under pressure, analysts find a bullish pattern that could drive a rally in Dogecoin.

While Dogecoin derives most of its trade volume and activity from the hype around its meme coin, the Shiba-Inu-themed cryptocurrency’s founder criticized the lack of fundamental awareness among crypto investors.

Billy Markus, co-creator of Dogecoin, doesn’t think highly of investors who are clueless about how the market works and shared his views in a recent tweet.

In the crypto market bloodbath triggered by the Federal Reserve tightening its monetary policy and the de-peg of stablecoins, after UST, Dogecoin wiped out its profits and posted 37% losses over the past two weeks.

Large wallet investors turned bullish on DOGE, accumulating the meme coin and holding it dormant since the beginning of 2022; however, several market participants exited.

Active Dogecoin addresses over the last six months Despite the recent pullback in Dogecoin, analysts remain bullish on the meme coin.

However, analysts have evaluated the Dogecoin price chart and identified a technical pattern that implies a trend reversal and a breakout in DOGE if it plays out.

If price penetrates the lower border and the bullish triangle pattern on Dogecoin price fails, it could lead to a breakdown for DOGE price instead.

FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.

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