Dogecoin DOGE/USD Foundation Product Lead Timothy Stebbing Voices Concerns Over Market Manipulation and Its Impact on the Community

Timothy Stebbing, product lead at the Dogecoin DOGE/USD Foundation, has voiced his concerns over market manipulation and its impact on the popular memecoin's

Timothy Stebbing, product lead at the Dogecoin Foundation, has raised concerns about market manipulation affecting the memecoin's community.

On Monday, Stebbing expressed his frustration on X, formerly Twitter, regarding certain organizations intentionally spreading negative information about Dogecoin online, aiming for the cryptocurrency to fail.

He further alleges that such organizations are exploiting Dogecoin's volatility to profit at the expense of less fortunate investors through pump-and-dump schemes.

“Our community has been gutted repeatedly by these kinds of people who don’t even consider (or perhaps don’t care) why someone would pay for this service, or the lives ruined.. they have blood on their hands,” Stebbing added, questioning the principles of those deliberately spreading FUD about the memecoin.

Stebbing stated, “Our community has been gutted repeatedly by these kinds of people who don’t even consider (or perhaps don’t care) why someone would pay for this service, or the lives ruined… they have blood on their hands.”

These allegations come in the wake of a significant rebound for the dog-themed memecoin on Monday.

A prominent cryptocurrency trader said recently that while Dogecoin has witnessed a steep correction, the worst could be over if one were to take historical patterns as guidance. However, if Bitcoin is topped out and enters a bear market, the bullish narrative for Dogecoin could be invalidated.

At the time of writing, DOGE was exchanging hands at $0.1075, following a 5.5% jump in the last 24 hours, according to data from Benzinga Pro.

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