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On February 8, the median U.S. 1-year inflation forecast rose to its highest level since November 2023. Capital Economics assistant economist Ruben Gargallo Abergus wrote: "This at least adds another reason for the Fed to remain cautious and suspend the easing cycle for a while." Higher inflation expectations are not the only inflation headwinds the Fed is currently facing. Wage growth continued to exceed expectations in January, which could push up inflation in the service sector. Economists expect Fed officials to keep interest rates unchanged at the March 18-19 policy meeting, and may even extend the suspension of rate cuts at the June meeting.The Israeli military says it has struck a Hamas weapons depot in Syria.According to Iranian state media reports, Irans Supreme Leader Khamenei met with visiting senior Hamas leaders in Tehran.On February 8, four large model application products under Baidu Smart Cloud, namely Keyue, Xiling, Yijian and Zhenzhi, were officially launched with access to the new version of the DeepSeek model.On February 8, according to Nikkei Chinese, Japans soaring food prices are dragging down personal consumption. The results of the household survey of the Ministry of Internal Affairs and Communications of Japan showed that consumer spending in 2024 actually decreased by 1.1% year-on-year. The "Engel coefficient", which indicates the proportion of food in consumer spending, is 28.3%, a 43-year high. Monthly spending in December 2024 actually increased by 2.7%, and consumption showed a recovery trend. From the perspective of the composition of consumer spending in 2024, the negative factors that actually contributed the most to consumer spending are transportation and communications, which actually decreased by 4.1% year-on-year. Due to the exposure of certification violations by some Japanese automakers, automobile production was suspended for a time, affecting consumption.

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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