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Futures News on May 14, Indonesian Minister of Energy and Mineral Resources Bahriel Rahadalia announced that Indonesia plans to gradually reduce and eventually stop importing fuel from Singapore because, despite the proximity, Singapores prices are not competitive, while fuel prices in Middle Eastern countries are more advantageous. Currently, about 54% to 59% of Indonesias fuel imports come from Singapore, but the government has begun to build larger docks to accommodate larger ships and import fuel more efficiently from other sources. Bahriel also pointed out that geopolitical and geo-economic factors are also the reasons for Indonesias diversification of fuel import sources, and stressed the need to maintain diversified energy imports and ensure national energy security.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: A Japan Air Self-Defense Force plane crashed in Japan.May 14th, after the United States released lower-than-expected inflation data on Tuesday, Trump again called for a rate cut, and the dollar continued to be under pressure. Trump once again accused Federal Reserve Chairman Powell of cutting interest rates "too late." Thu Lan Nguyen, head of foreign exchange and commodity research at Commerzbank, said in a report that at first glance, the decline of the dollar after the data seemed logical given the prospect of a faster rate cut by the Federal Reserve. However, this may also reflect the fact that Trump will feel that he is right given the lack of tariff effects in the data.According to AFP: Diplomatic officials said the European Union agreed to impose a 17th round of sanctions on Russia.According to NHK, the local fire department received a call saying that something like an airplane crashed into a pond in Inuyama City shortly after 3 p.m.

Dogecoin Co-Founder Says “Crypto Is 95% Scams.” Don’t Buy Dogecoin

Steven Zhao

May 30, 2022 14:59

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The most well-known meme cryptocurrency, Dogecoin (DOGE-USD), is mostly popular owing to a fun and welcoming community. However, for those who own DOGE, the best days are behind them.


Dogecoin hit a high of roughly 69 cents in early May 2021. Since then, the meme currency has lost 88 percent of its value. It's lost 43% in the last month and now trades at about 8 cents.


Many people are questioning whether DOGE will rise as a result of this. The more pressing issue is: why is there still interest in a meme currency that began as a joke in 2013 and hasn't changed since?

"Crypto Is Made Up Of 95% Scams"


"Crypto is 95 percent frauds and junk," Dogecoin co-founder Billy Markus tweeted recently regarding the status of cryptocurrencies.


Change, he concluded, "begins with you - what you support and how you act." Elon Musk, a backer of Dogecoin, responded to this tweet with a laughing emoji. What's unclear is if Billy Markus feels DOGE is among the 95% of cryptos that are junk and frauds.


DOGE "knows it's ridiculous," according to Markus, but "it has promise as a currency," according to Musk.

Dogecoin Isn't Worth Anything

Some cryptocurrency experts are positive on Dogecoin, predicting that the meme coin will reclaim its previous highs. Elon Musk's name is often used as reason for this.


That isn't a compelling cause for Dogecoin's price to rise. Elon Musk has been able to propel DOGE higher in the past, but such rallies lacked momentum and were unjustified.


Dogecoin, in my opinion, is a worthless currency that enjoyed its 15 minutes of glory. DOGE's true value, in my opinion, is nil.

The Dogecoin Devaluation

Who is it that actually affects the price of cryptocurrencies? It is not ordinary investors who are affected, but rather large investors with large stakes – whales.


Whales quitting their investments are "the major cause" in Dogecoin's price drop, which suggests that even if crypto as a whole recovers, DOGE may not.


The recent fall of TerraUSD (UST-USD) and Terra (LUNA-USD) has fueled fears that cryptocurrency regulation may arrive sooner than predicted. Higher interest rates have also contributed to a risk-averse mindset. Shifting to safe-haven assets now makes sense, yet DOGE is far from that.


Dogecoin is likely to see further selling pressure in the future. There's no incentive to purchase it unless you honestly think Elon Musk can execute a miracle and send it higher.

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