‘1 DOGE = 1 DOGE’: Dogecoin Director Says What Truly Matters Amid Market Drop – U.Today

In a recent tweet, Dogecoin Foundation Director and House of Doge CTO Timothy Stebbing addresses critics who routinely dismiss developments in the Dogecoin ecosystem.

Stebbing highlighted a trend on X: when news about advancements in utility for the Dogecoin ecosystem is shared, some X users point out the lackluster price action.

Stebbing believes this mindset misses the bigger picture. “1 doge to 1 doge,” he echoed a popular saying in the crypto community, particularly among Bitcoin and Dogecoin holders, which is that one coin stays one coin regardless of price volatility.

The Dogecoin Foundation Director stated this to indicate that price remains largely irrelevant to his view, going by his statements in the last six years.

What really matters?

While many market participants focus on short-term price action, Stebbing believes that long-term success resulting in a price boost will come through utility. “As I’ve stated hundreds of times, Dogecoin is for spending, not holding, and any price I care about will come through utility gains, not news or hype,” he stated.

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Stebbing also addressed a seeming misunderstanding regarding announcements made by crypto projects. According to him, companies share updates to attract users and highlight new features, not to “pump” prices.

“There is only utility and adoption from this point on. It’s no longer cool and unique to be a crypto project like it was 5 years ago. Build utility and some kind of use case and beat the competition for your niche, or your project is dead,” Stebbing added.

Crypto market drops 

At the time of writing, Dogecoin was down 1.76% in the last 24 hours to $0.084 as the crypto market edged lower ahead of critical economic data releases. The cryptocurrency is down 11% weekly, given the continued selling pressure in the market.

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This week, investors will monitor how the latest inflation print will shape interest rate decisions.

Meanwhile, Dogecoin whales continue to accumulate. Ali, a crypto analyst, reported that whales have accumulated more than 200 million Dogecoin over the past week alone.