Dogecoin Founder Gives Crucial Statement on Crypto Bloodbath

Crypto Crash Jolts Market, Dogecoin Founder Reacts with Humor

Cover image via U.Today

The recent crypto crash has wiped out over $500 billion from the total market cap, leaving the community reeling. Dogecoin founder Billy Markus has provided a surprising and humorous take on this tumultuous event.

On social media, Markus tweeted that major news headlines have not kept pace with the market sentiment. He shared a screenshot of articles discussing bullish sentiment after the launch of Ethereum spot ETFs.

"it's funny when headlines haven't caught up with the market pic.twitter.com/h0gIUzP5QD"— Shibetoshi Nakamoto (@BillyM2k) August 5, 2024

Markus seemingly criticized the media for failing to reflect the current crypto bloodbath. Known for his wit and sarcasm, he called out the headlines for not accurately capturing the market's downturn.

Crash Looks 'Horrible'

Markus, known as Shibetoshi Nakamoto on social media, followed up with another tweet reacting to the crash in a humorous way. An X user shared a screenshot showing that the Finnish translation of "kamala" is "horrible," likely a reference to U.S. politician Kamala Harris.

Markus responded by saying that the crypto market has been looking very "kamala," highlighting the grim conditions. Using humor and sarcasm, the Dogecoin founder emphasized the worsening market situation where millions have been liquidated.

Three-Day Crypto Wipeout

The crypto market experienced a severe crash on Sunday, continuing into Monday. The downturn was triggered by disappointing employment data, stagnant tech stock growth, and renewed fears of a global recession.

At the time of writing, Bitcoin (BTC) trades at $51,806, down 14.53% in the last 24 hours. Over $371 million has been liquidated from the BTC market during that period. The broader crypto market is likely to face further challenges this week. Reactions from industry leaders like the Dogecoin founder reflect the pessimistic sentiment.