As a seasoned crypto investor with a decade-long journey under my belt, I find myself constantly intrigued by the rollercoaster ride that is the digital asset market. The latest tweet from Billy Markus, aka Shibetoshi Nakamoto, serves as a stark reminder of the unpredictable nature of this industry. His frustration with the turbulence in the crypto market is palpable, and I can’t help but sympathize. After all, who among us hasn’t cursed the market for its seemingly random surges and crashes?
Billy Markus, often referred to as Shibetoshi Nakamoto on social media platforms, is a co-creator of the famous meme-based cryptocurrency Dogecoin, which was established more than a decade ago. He’s recognized for his humorous comments or opinions directed at the crypto world and the market that has emerged since Bitcoin‘s inception.
Dogecoin creator bashes crypto market turbulence
On December 10th, Markus published a critique of cryptocurrency on his X page. In this post, Billy Markus was blunt in his assessment of the crypto market’s instability.
can crypto stop being such a butthead
— Shibetoshi Nakamoto (@BillyM2k) December 10, 2024
On Tuesday, Dogecoin initially fell by over 10%, but subsequently rose by 10.22% and is currently being traded at approximately $0.40424. The day before, DOGE had reached a bottom after experiencing a decline of 25% since Sunday, which brought its price down from $0.48474.
Bitcoin experienced a nearly 6% decrease since Sunday, falling from around $100,410 to the $94,500 range. However, during the night, Bitcoin recovered by approximately 4.22%, bringing its current price up to about $98,310 at the time of writing.
As a crypto investor, I’ve frequently voiced my concerns about the erratic behavior of the digital currency market. It seems like a rollercoaster ride, with prices climbing to unprecedented heights only to plummet unexpectedly, leaving me wondering, much like Shibetoshi Nakamoto, what exactly is driving these shifts without any clear explanation. In my earlier posts, I’ve expressed my skepticism about why Bitcoin and other major cryptos start to surge or suddenly plunge, erasing significant value in the process.
In another recent tweet, Shibetoshi Nakamoto also took a jab at non-fungible tokens (NFTs), saying that “the biggest problem with NFTs is whatever dumb f** decided to call them NFTs.” His hatred towards these digital assets has also been known widely first on Twitter, then on Elon Musk’s X. In 2023, he called NFT lovers “mentally ill”, even though Markus has launched several of his own NFT collections.
146.5 million DOGE deposit stuns Robinhood
Over the last twenty hours, it’s been noticed by leading cryptocurrency monitor Whale Alert that Robinhood, a well-known investment platform handling stocks, commodities, and digital currencies, has received a substantial deposit worth nearly 150 million Dogecoin.
Two significant transactions involving Dogecoin (DOGE) were processed at a trading and investment platform: one transfer totaled 61,160,251 DOGE, equivalent to approximately $23,493,325 at the time of transaction, and another move transferred 85,430,198 DOGE, valued at around $32,932,934. These transactions were initiated from anonymous blockchain wallets.
🚨 🚨 85,430,198 #DOGE (32,932,934 USD) transferred from unknown wallet to #Robinhood
— Whale Alert (@whale_alert) December 10, 2024
Dogecoin remains on the top-ten list of cryptos with a market cap of more than $59 billion.
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2024-12-11 15:13