Dogecoin Founder Highlights Poor ETH Performance Compared to BTC and DOGE

by

As a seasoned crypto investor with over a decade of experience in the digital currency market, I’ve witnessed firsthand the wild ups and downs that come with investing in this space. Having closely followed the journey of Billy Markus, aka Shibetoshi Nakamoto, since the creation of Dogecoin, I can say that his recent comment on Ethereum’s performance left me chuckling.

Billy Markus, also recognized as Shibetoshi Nakamoto on the X platform, who co-founded Dogecoin with Jackson Palmer back in 2013, recently shared his thoughts on the relatively poor Ethereum (ETH) price trends when compared to those of Bitcoin and Dogecoin.

Originally posted by Shibetoshi Nakamoto, visual representations indicated that both Bitcoin and Dogecoin were surging on a positive trend (green wave), whereas Ethereum was experiencing a downturn, finding itself in the red area.

“Ethereum retarded”: Dogecoin creator

Over the weekend, Ethereum, the second-largest cryptocurrency, has been attempting to move beyond the $3,215 resistance barrier it encountered. It attempted this twice, first on Saturday and then again on Monday, reaching as high as $3,215 and $3,225 respectively. As a result of these efforts, Ethereum experienced a 6.8% growth between Friday and Monday.

Since that time, ETH has experienced two drops, bringing it down to around $3,080, and now it’s being traded at approximately $3,127 per coin.

is ethereum retarded or something

— Shibetoshi Nakamoto (@BillyM2k) November 19, 2024

Contrary to Ethereum, Bitcoin, the leading cryptocurrency, has been exhibiting an apparent upward trajectory during the same recent timeframe. Despite experiencing fluctuations with peaks and troughs, it surged by 7.13% to reach a high of $93,975 by Tuesday. However, since then, its value has dipped slightly and is currently being traded at $93,308.

Regarding Dogecoin, there was a significant surge of approximately 21% from Sunday to Tuesday, propelling it from $0.34 to a local peak of $0.42. However, since then, it has experienced a minor dip of around 6.59%, currently trading at $0.39243.

In a comparison where Ethereum showed less favorable price growth relative to Bitcoin and Dogecoin, Markus expressed his discontent towards Ethereum, asking: “Does Ethereum lack intelligence in some way?

Ethereum about to outperform Bitcoin: analyst

crypto expert Ali Martinez recently posted on Twitter that Ethereum might soon surpass Bitcoin, potentially reaching a minimum of $4,000 and possibly even $6,000. Martinez points out that traditionally, Ethereum tends to outpace Bitcoin during each market cycle, but this has not been the case in the current one thus far.

The analyst noted that over the last few weeks, whales have acquired approximately $1.4 billion in Ethereum, anticipating a possible price increase.

Where do you think Ethereum is headed next?

— Ali (@ali_charts) November 19, 2024

Martinez posted on Twitter that Ethereum is presently shaping an ascending parallel channel. This pattern indicates potential price movements that could see ETH attempting to reach and possibly surpass the middle and upper limits of this channel, which are currently at $4,000 and $6,000 respectively.

Read More

2024-11-20 12:55