Dogecoin Creator Reacts to DOGE 20% Weekly Surge

Cover image via U.Today

Billy Markus, the co-creator of the original meme cryptocurrency DOGE in 2013, has shared his thoughts on the coin's recent surge in price. Markus maintains his characteristically ironic perspective and skepticism towards the cryptocurrency market.

Markus on the Reasons Behind DOGE's Rise
Last week, Dogecoin (DOGE), the largest meme cryptocurrency by market capitalization, surprised the crypto community with a remarkable 21% increase. Between Wednesday and Saturday, DOGE soared from $0.10745 to a local high of $0.13.080.

Markus has expressed uncertainty about the factors contributing to this surge, stating in a tweet:

"Q&A Q: why is dogecoin up 20% this week? A: no idea"

• Billy Markus, @BillyM2k, September 29, 2024

In response to a comment that his answer was concise for such a significant question, Markus replied: "it's pretty much my answer to everything crypto price related." He further noted that people continue to seek his insights on price movements and their triggers.

Whale Activity and DOGE's Surge
During last week's price increase, whales acquired substantial amounts of DOGE. U.Today reported that 1.4 billion DOGE was purchased by large cryptocurrency holders in just 48 hours, representing an investment of approximately $140 million. Over the weekend, an unknown whale added another 1.4 billion DOGE to its holdings. Markus responded with a succinct "wat" comment.

Markus Reiterates His Distance from Cryptocurrency Projects
Markus has reiterated his non-involvement with any cryptocurrencies beyond Dogecoin and the Bells coin, which he developed prior to DOGE. He warns that any claims to the contrary are attempts to deceive the community. Markus emphasizes that he has no plans to develop new cryptocurrencies or join teams involved in such ventures, including meme coins.