DOGE Founder Reacts to Bitcoin, Dogecoin and Ethereum Sell-off

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As a seasoned crypto investor with a decade-long journey in this rollercoaster ride, I find Billy Markus’ latest post both amusing and intriguing. Having experienced numerous market crashes and recoveries myself, I can appreciate the sarcasm in his statement about being “happy that [he] quit [his] job.

Billy Markus, also recognized on social media as Shibetoshi Nakamoto, the founder of Dogecoin (DOGE), posted a cryptic message on X. This message appears to express his response to the swift drop in the values of Bitcoin (BTC), Dogecoin (DOGE), and Ethereum (ETH).

Dogecoin founder’s cryptic post amid market turmoil

Markus posted a screenshot of the cost for these three investments, accompanied by a brief note: “On Day 3, feeling content for having left my previous job.

The prices of Bitcoin (BTC), Dogecoin (DOGE), and Ethereum (ETH) have significantly decreased, indicating a strong bearish mood among investors. This bearishness has led to increased selling pressure on these coins. Consequently, Bitcoin ETFs have experienced the largest withdrawals due to the bears’ control over the market.

day 3 of being very happy that i quit my job

— Shibetoshi Nakamoto (@BillyM2k) December 20, 2024

Even with such a significant drop, there’s an underlying tone of wit from Markus that some might classify as sardonic. To others, his message seems to hint at a more subtle intention – capitalizing on the reduced cost of assets.

Markus might be planning to purchase when prices drop, hoping for an increase in value later on, which may lead to him selling off his shares to secure profits.

The original post by the creator of Dogecoin has sparked responses from both his supporters and various cryptocurrency users. Some people think that the recent price decline presents an excellent chance for investors to build up their holdings before the upcoming surge in market value.

For the very first time, Bitcoin surpassed the symbolic price point of $100,000 and climbed further to more than $108,200. This significant jump was met with a flurry of profit-taking among investors, particularly those who had initially bought in when Bitcoin cost less than $80,000.

Market dynamics and investors’ confidence

At present, I’m observing that each Bitcoin is being traded at approximately $93,726.91, representing a decrease of 8.15% over the past 24 hours. After experiencing a bullish surge that propelled its market capitalization above the $2 trillion mark, Bitcoin’s market cap has currently dipped to around $1.85 trillion. Conversely, Bitcoin’s trading volume has significantly increased by 24.19%, reaching approximately $119.02 billion.

dogecoin’s value dropped approximately 20.5% to $0.289 over the course of 24 hours, but its trading volume increased significantly by 107.95%, reaching a whopping $13.58 billion. Similarly, ethereum witnessed an impressive 47.64% increase in market volume, amounting to $75.88 billion. Despite this surge, ethereum’s price fell 12.33%, landing at $3,230.49.

According to analysts, these three coins are experiencing a surge in trading activity, indicating that investors are optimistic about their value. It’s possible that these investors are preparing for potential market recoveries in the future.

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2024-12-20 19:07