Dogecoin (DOGE) Product Lead Timothy Stebbing Voices Concerns Over Market Manipulation, Calls FUD-Spreaders \'Blood on Their Arms\'

Timothy Stebbing, product lead on the Dogecoin DOGE/USD Basis, has voiced his considerations over market manipulation and its impression on the favored memecoin's neighborhood.

Dogecoin Basis product lead Timothy Stebbing has expressed his concerns over market manipulation and its impact on the memecoin community.

According to Stebbing, certain organizations are deliberately spreading negative information about Dogecoin online, hoping for the cryptocurrency to fail. He further alleges that these organizations capitalize on the cryptocurrency’s volatility to profit at the expense of less fortunate investors through pump-and-dump schemes.

“Our community has been gutted repeatedly by these types of people that don’t even consider (or maybe don’t care) why someone would pay for this service, or the lives ruined.. they have blood on their arms,” said Stebbing, questioning the motives of those intentionally spreading fear, uncertainty, and doubt (FUD) about the memecoin.

These allegations follow a significant rebound for Dogecoin on Monday. A prominent crypto trader recently noted that while Dogecoin has seen a steep correction, if historical patterns are any indication, the worst may be over. However, the bullish narrative for Dogecoin could be negated if Bitcoin tops out and enters a bear market.

At the time of writing, DOGE is trading at $0.1075, up 5.5% over the last 24 hours, according to data from Benzinga Pro.

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