Billy Markus’ ironic tweet can be related to by any DOGE holder
The Co-Founder of One of the Biggest Memecoin in the Market Shares an Irony Tweet About the good that the expanding market brings us, which literally means “nothing.” This statement is more than relevant considering the latest price performance of Dogecoin, which has been reeling in an extended bear market for the past 466 days.
The extended bear market for Dogecoin began back in 2021, when the price of the most popular memecoin on the market reached $0.73 thanks to the support of Elon Musk and the bull run on the cryptocurrency market in general.
Unfortunately, with a lack of use cases and fundamental value, the price of Dogecoin fell sharply after the market faced the first massive sell-off by institutional investors and whales. Despite the occasional tweets and interviews where Elon Musk mentioned Dogecoin and said he would allow people to pay for Tesla with it, the prolonged slump at Doge is not over.
The most recent attempt to exit the bear market was Aug. 16, when DOGE’s price spiked for more than 30% in just a few days and took the spotlight in the cryptocurrency market top.
At press time, Dogecoin is trading around $0.06 and is moving in a longer consolidation range, which is a sign of low liquidity and volatility as investors are currently unable to invest in high-risk assets such as Dogecoin or the Shiba Inu. are not interested.
