As memecurrency struggles greatly on market, its co-founder makes important statement
One of the founders of the Dogecoin project posted an important reminder on his official Twitter account regarding his connection to the cryptocurrency in its current state.
In his post, Billy Markus explained that he is no longer working on Dogecoin. He left the memecurrency a full seven and a half years ago, and he will never start working on it again despite being one of the biggest ambassadors for Doge.
Although some users do not support his decision, his intention is to show what true decentralization really is. Although Dogecoin is not the most technically sophisticated ecosystem in the industry, it is still undergoing active development despite the lack of a “leader”.
“Shibetoshi Nakamoto” has also touched on the definition of the cryptocurrency market, ironically, describing it as a blend of “hopium,” “fomo,” panic and other phenomena circulating in the industry. He also added that it is fascinating to look into human nature as it is intertwined with money.
Although removed from the core of the project, Markus believes the Dogecoin ecosystem is getting healthier with the speculation surrounding it. He also added that utility is the main priority the Dogecoin team should focus on in the present and the future.
As for the price of Dogecoin, Markus told his subscribers numerous times that he feels nothing about it. The frustration of the community is tied to the fact that DOGE has lost more than 85% of its value since the all-time high.
While massively down, DOGE is also showing no signs of a potential reversal and has continued to lose value over the past 200 days, becoming one of the worst performing assets in the crypto market.
