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Dogecoin cofounder Billy Markus, who goes by the alias "Shibetoshi Nakamoto" on X, says that the most interesting thing about cryptocurrency is not the tech, the price or even the utility but rather what it reveals about human psychology.
Psychology in literal terms means the mental characteristics or attitude of a person or group and the study of the mind and behavior.
According to the Dogecoin cofounder, an interesting part about cryptocurrencies is what it reveals about one's mental attitude and behavior.
This brings to mind the crucial role sentiment plays in the cryptocurrency market, influencing price movements and volatility, and sometimes overshadowing traditional fundamental or technical factors in the short term.
Dogecoin marks 12 years
The insight from the Dogecoin cofounder comes just days after Dogecoin celebrated its 12th anniversary, having launched on Dec. 6, 2013.
Markus shares truths about the crypto market in a witty, humorous character, aligning with Dogecoin's positioning as a fun cryptocurrency.
In a tweet where he celebrated Dogecoin's 12 anniversary, Markus wrote: "12 years ago i made something stupid and then a bunch of even stupider stuff happened and now i am posting about it on the internet to 2.15 million followers. happy 12th genesis day, dogecoin."
Originally created as a joke, Dogecoin currently ranks as the ninth largest cryptocurrency, with a market capitalization of $23.07 billion, trading at $0.142 at press time.
The majority of cryptocurrencies are trading in the green on Monday as the market anticipated a Federal Reserve interest-rate cut on Wednesday, with the probability of a 25-basis-point cut standing at around 87%, according to CME data.
Despite crypto market gains, sentiment remains cautious, with the potential for further declines in the absence of fresh catalysts and liquidity.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team