The creator of the first memecoin asks Coinbase to stop pressuring investors with constant negative price updates
The creator of the first meme currency DogecoinBilly Markus, spoke to one of the biggest cryptocurrency exchanges in the industry – Coinbase – and asked them about the need for constant price updates in complicated market conditions.
The Dogecoin community also supported Markus and called out Coinbase, saying that there is no need to remind users about the declining performance of various cryptocurrency assets, even those that are not being tracked by investors.
Many commentators have noted that by constantly posting steep cryptocurrency declines in the market, companies put unnecessary psychological pressure on investors.
Social indicators show fear
There are a variety of social indicators that track sentiment among investors, and during the correction, most of these metrics dropped significantly, suggesting that there is uncertainty on the market.
The most famous indicator that uses sentiment in the crypto community, the Fear and Greed Index, currently remains in the “fear” zone, suggesting that the bulk of the market is still not ready for major moves or even to buy new currencies.
The aggravation of the correction on the market is the main reason behind increased panic among investors. The majority of digital assets have lost over 50% of their value because of the risk-off tendencies on financial markets and outflow of funds from the crypto industry.
Memecoins like Dogecoin and Shiba Inu are also experiencing one of the worst trading periods in their history, with both assets losing over 60% of their value against the current ATH. At press time, Dogecoin is trading at $0.1 while remaining in a seven-day corrective cycle.
