Dogecoin Founder Issues Crucial Statement on Bleeding Cryptocurrency Market

Dogecoin Creator Shares Insightful Meme on Market Decline

Billy Markus, the co-creator of Dogecoin, recently shared his thoughts on the significant cryptocurrency market downturn via .

Bitcoin's Price Plunge

Over the past 24 hours, Bitcoin has witnessed a decline of 5.81%, partially offset by a subsequent 1.55% increase. At the time of writing, Bitcoin trades at $55,860 on Bitstamp.

Between July 1 and 5, Bitcoin lost over 15% of its value, falling from $63,600 to $53,900. Despite attempts to recover, a further 8.3% surge to $58,370 was met with a 24-hour decline.

Markus's Meme Commentary

Known for his humorous and often ironic takes on cryptocurrencies, Markus shared an image of a sinking yacht with the caption "How's your crypto going?" The yacht's name, "No Worries," serves as a telling response.

Dogecoin's Trajectory

Dogecoin has mirrored Bitcoin's price movements, experiencing a 28% drop from July 1 to 5 and a subsequent 20% recovery. However, an 11.4% loss in the last 24 hours has been followed by a 3.64% rise, bringing its current value to $0.10428.

Markus's Views on Crypto Investing

Markus frequently criticizes crypto trading, likening it to gambling due to the unpredictable nature of price movements. He has also compared crypto investing to mental illness and NFT trading.

Last week, he commented on Bitcoin's potential for financial freedom, expressing skepticism as prices fluctuate significantly. Markus's remarks align with the downturn that occurred shortly before the US Independence Day.