Dogecoin and other cryptocurrencies have been under severe pressure over the past few weeks
on Australian television panel “The Project,” Dogecoin co-founder Jackson Palmer compared cryptocurrencies to a house of cards.However, he concedes that it’s “too early” to definitely state whether or not the most recent price correction has marked the end of cryptocurrencies.Palmer has opined that decentralized finance is actually the underlying reason behind the cryptocurrency crash.
Since it is “pretty easy” to use electronic banking these days, the Dogecoin co-founder doesn’t see a specific use case for cryptocurrencies despite the fact that their cumulative value came close to $3 trillion last November. The Australian software developer hopes that the ongoing crash is going to be a “wake-up” call for people.Prior to that, the Dogecoin co-founder locked horns with Tesla CEO Elon Musk on social media. DOGE is down a whopping 92% from its record peak that was achieved last May.
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