DOGE Founder Reacts to Bitcoin, Dogecoin and Ethereum Sell-off

Dogecoin Founder Responds to Crypto Market Turmoil

Cover Image Credit: U.Today

Billy Markus, founder of Dogecoin (DOGE) and known on social media as Shibetoshi Nakamoto, has shared a cryptic statement on Twitter. The post comes amid a significant decline in the prices of Bitcoin (BTC), Dogecoin (DOGE), and Ethereum (ETH).

Markus's Response to Market Volatility

Markus posted a screenshot highlighting the current prices of Bitcoin, Dogecoin, and Ethereum, accompanied by a brief caption: "Day 3 of being happy that I quit my job."

The listed prices show a substantial drop in all three cryptocurrencies, reflecting the bearish sentiment that has impacted the market. Bitcoin ETFs have also experienced significant outflows as investors sell their holdings.

Underlying Message and Investor Confidence

Despite the decline, Markus's tone suggests a hint of humor, potentially indicating a sarcastic reaction. Some speculate that the post may imply a strategy to take advantage of the lower prices.

Price Movements and Market Analysis

Bitcoin recently crossed the psychological barrier of $100,000 but later retreated, resulting in profit-taking by early investors. As of writing, BTC trades at $93,726.91, down 8.15% in the past 24 hours. Dogecoin's price has fallen by 20.49% to $0.289, while Ethereum has declined by 12.33% to $3,230.49.

Despite the price declines, the trading volume of all three cryptocurrencies has surged, indicating that investors still have confidence in these assets. Analysts believe that investors may be positioning themselves for potential market rebounds in the future.