Dogecoin (DOGE) co-founder Billy Markus criticized most cryptocurrency investors for lacking basic knowledge of the general market.
In a series of tweets, Markus claimed that 70% of people in crypto have “absolutely no idea” and do not understand market fundamentals. Markus also pointed out that most investors don’t consider essential factors like market research before investing.
“I’m not sure how many crypto investors don’t even understand the fundamentals of either crypto or how the markets work, but I’m guessing from reading what people are saying that at least 70% of them have no idea,” Markus said.
i am not sure how many investors in crypto don’t even understand the fundamental basics of either crypto or how markets work, but i would guess by reading what people say, at least 70% have absolutely no clue
—Shibetoshi Nakamoto (@BillyM2k) May 16, 2022
DOGE Founder on Cryptocurrency Scams
Previously, the founder of meme-currency said that the majority of 95% cryptocurrency projects were nothing but “scams and rubbish” with no real value to offer. He observed that most genuine cryptocurrency projects are having credibility battles with mainstream investors due to the existence of scams.
Markus made the remarks following the collapse of Terra, with millions of investors losing a significant amount of money. In this matter, he called on the founder of Terra, Do Kwon, to leave the crypto sector for good.
As advice to investors, Markus reiterated the importance of basic research without falling into online ad marketing across different assets. Additionally, he cautioned against emotional investing, emphasizing the importance of entering the market with a plan.
Markus continues his attack on crypto
In the recent past, Markus has criticized the crypto market saying that DOGE was started to ridicule the state of the crypto market and the prevalence of wasteful projects.
Despite the motivation behind creating DOGE, the coin was a massive success, attracting millions of investors, including celebrities like Elon Musk. Last year, DOGE ranked among the top-performing assets amid the network’s continued development.
Although the coin’s momentum has cooled, the latest data indicates that it is still popular.
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