When panic selling hits, market contagion spreads like wildfire—fundamentals take a backseat until things cool down. Sure, USDe's underlying mechanics are solid, but here's the thing: in full-blown fear mode, perception trumps everything. Doesn't matter how robust your protocol is if traders are running for the exits. The narrative becomes reality faster than you can say "algorithmic stablecoin." Classic case of sentiment overpowering substance in crypto markets.