- Lucie exposes manipulation and opacity in centralized crypto exchanges.
- Musk distances himself from DOGE promotion, signaling potential market shifts.
Amidst the present local weather of heightened warning inside the crypto market, as underscored by CoinMarketCap’s latest worry and greed index, Shiba Inu’s [SHIB] prime advertising and marketing government Lucie has uncovered some uncomfortable truths about centralized cryptocurrency buying and selling platforms.
Via her submit on X, Lucie make clear the customarily opaque and generally doubtful practices surrounding the itemizing of recent tokens.
Lucie exposes centralized trade
Her revelations highlighted vital issues concerning the integrity and transparency of those platforms, emphasizing the necessity for extra rigorous scrutiny in an atmosphere the place investor confidence is already fragile.
She stated,
In her thread, Lucie further criticized the marketplace for its rampant manipulation, revealing a panorama the place varied gamers are solely targeted on their very own agendas, usually on the expense of transparency and truthful play.
She added,
“I nonetheless consider in an upcoming bull market, however in the event you observe the politics, no exchanges are pumping cash, and never even Elon can pump Doge.”
The latest revelations have notably unsettled the Dogecoin [DOGE] neighborhood, coinciding with a drop within the worth of the canine-themed meme coin.
DOGE’s present market development
In keeping with the most recent Coingecko replace, DOGE was buying and selling at $0.1005 at press time, reflecting a 0.8% decline over the previous 24 hours and the same drop over the week.
Traditionally, tech billionaire Elon Musk has performed a pivotal function in boosting DOGE’s worth along with his tweets, usually turning bearish tendencies into bullish rallies.
Nevertheless, following allegations of investor fraud and insider buying and selling involving Dogecoin, which resulted in vital monetary losses, the dynamics have shifted dramatically.
Musk refrains from selling DOGE
Regardless of emerging victorious within the authorized battle, as affirmed by U.S. District Judge Alvin Hellerstein’s ruling on twenty ninth August, Musk has remained cautious about selling the memecoin.
At a latest X Takeover occasion, Musk advised the general public in opposition to trusting any cryptocurrency tasks that leverage his picture or identify, warning that such ventures are probably fraudulent.
He emphasized,
“I’m not going to be selling crypto — at most, in a joking method,” the billionaire stated. “In case you see me pumping crypto, it’s not me. I do assume there’s benefit in Bitcoin and perhaps another cryptos, and I’ve form of received a comfortable spot for Dogecoin, as a result of I like canines and memes.”
Given Musk’s latest stance, it seems the market could also be by itself.
That being stated, AMBCrypto’s evaluation of IntoTheBlock knowledge exhibits that 70.99% of Dogecoin holders are “within the cash,” whereas 26.56% are “out of the cash.” This knowledge suggests a possible bullish shift for DOGE within the close to future, regardless of the present volatility.