The crypto industry has been criticized and portrayed as speculative since its inception. That has not completely disappeared from the sentiment even now. Even the founder of Dogecoin (DOGE) does not understand why the market is considered so important. He calls crypto investors mentally disturbed.
Dogecoin founder: crypto investors are crazy
The founder of Dogecoin is Billy Markus, who also refers to himself as ‘Shibetoshi Nakamoto’ on Twitter. He may have founded the biggest memecoin, but ironically he wants nothing more to do with it. At the beginning of this month, he stated that he had not worked on the project for nine years.
He also has ‘very little dogecoin’, although it is not clear how much he does have. He would have set up the project in just a few hours. At the top of the market, it had a market value of about $90 billion. All in all, he is openly skeptical of the project.
He also thinks the rest of the market makes no sense, and investing in it is asking for trouble. “Investing in crypto is literally investing in mental health problems – which I think is starting to increase,” Markus suggests in a new tweet. In a response he writes “I am bearish on mental health (investors) and bullish on mental health issues. The world is getting dumber and more hopeless by the day.”
i’m bearish on mental health and bullish on mental illness
the world is getting stupider and more pathetic each day
— Shibetoshi Nakamoto (@BillyM2k) April 22, 2023
When asked if he also classifies Non-Fungible Tokens (NFTs) as crypto he replied “NFTs are a crypto derivative, so that is even more psychologically disturbing.”
The return of the memecoins
Meanwhile, memecoins are slowly starting to bounce back from a deep bear market. In fact, several completely new projects have already been set up in the controversial ‘sector’. For example, BONK has already risen by thousands of percent shortly after its creation, while the bitcoin price has only increased 84% from the bottom.
Last week we were able to add Pepe (PEPE) to the list. This coin borrows the name of Pepe the Frog, a cartoon character that has become very popular in recent years meme has become. But the project also has characteristics of one pump and dumpso it could also disappear just as quickly as it came to the fore.
