Working with Jackson Palmer, Billy Markus, often known on social media as Shibetoshi Nakamoto, invented the well-known meme-themed cryptocurrency Dogecoin in 2013 as a spoof of Bitcoin. Since then, both have resigned from the project, giving the Dogecoin Foundation control over it.
Dogecoin creator reacts to Bitcoin and crypto crash
With a large following of over 2 million on X, Markus has grown over time to become a cryptocurrency influencer. He frequently posts memes and offers his opinions on significant developments in the political, financial, and cryptocurrency domains.
The co-founder of Dogecoin tweeted, “Man crypto sure does suck,” as altcoin values started to decline in the wake of the two biggest cryptocurrencies, Ethereum and Bitcoin. Markus is well-known for his mistrust of cryptocurrency trading, frequently drawing comparisons to gambling.
Markus posted his tweet at the exact moment that numerous significant developments in the cryptocurrency field led the price of Bitcoin to plummet over night.
https://x.com/BillyM2k/status/1785316776735383950
Crypto market goes down following Bitcoin 10% crash
The world’s most popular cryptocurrency, Bitcoin, has dropped over 10.3% in the last 24 hours, moving from the $64,600 region to the $57,650 area, where it is now trading at the time this piece is written.
Ethereum, the second-largest cryptocurrency by market capitalization, has also experienced a decline of over 11%, following Bitcoin. After losing the $3,243 mark on Tuesday, it is currently trading at $2,874.
Dogecoin fell from $0.1458 to $0.1242, where it is currently resting, a drop of about 15%.
The fact that Binance founder CZ was sentenced to four months in jail for breaking the Bank Secrecy Act (BSA) and for allegations of money laundering on Binance is seen to be one of the main causes of the decline. In addition, traders had anticipated that the Bitcoin-Ethereum ETFs in Hong Kong would outperform the spot Bitcoin ETFs in the US on their first trading day. However, the jobs data turned out to be worse than anticipated.
In actuality, the Hong Kong ETFs saw $12.4 million in trade and $141 million in inflows, with a portion going towards Ethereum and Bitcoin. These were greatly exceeded by the US spot ETFs, which debuted with $740 million in assets and $4.6 billion in trading activity.
