Dogecoin Founder Says ‘WAGMI’ as Bitcoin, DOGE Prices Crash

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As a researcher with a keen interest in the crypto market and its colorful characters, I find Billy Markus, AKA Shibetoshi Nakamoto, to be an intriguing subject. His recent comment on the market crash, expressed through his characteristic sarcasm, is a testament to his unique perspective and sense of humor.

Billy Markus, one of the creators behind the initial meme-based cryptocurrency, Dogecoin (launched in 2013), recently shared his thoughts on the significant drop in prices experienced by Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies within the market over the past day.

As an analyst, I’m recognized under the online moniker Shibetoshi Nakamoto on social media. In a recent post, I referenced the well-known ‘WAGMI’ term, which stands for “We’re All Gonna Make It” – a phrase often used to express optimism and bullish sentiment in the crypto community.

Markus reacts sarcastically as BTC, DOGE, ETH crash

Often recognized for his witty, tongue-in-cheek remarks concerning the unpredictable crypto market, Markus expressed himself in his characteristic fashion. By sharing a chart featuring the top three cryptocurrencies – Bitcoin, Ethereum, and Dogecoin (among which one was his creation), he penned down his thoughts in an X post in all caps: “SO HAPPY I LEFT MY JOB.

SO GLAD I QUIT MY JOB

— Shibetoshi Nakamoto (@BillyM2k) December 19, 2024

Examining the screenshot before me, I noticed that Bitcoin dipped below the $98,000 threshold. Interestingly, in the last hour, the leading global cryptocurrency has continued its downward trend, dropping to $96,076 per coin. Over the past two days, this represents a 6.45% decline from its price mark of $102,000 set on Thursday.

Originating from the mind of Shibetoshi Nakamoto, the cryptocurrency known as Dogecoin, has experienced a significant drop, decreasing by approximately 17% from its previous value of $0.36668 to its current trading price of $0.30491.

Currently, the second most valuable digital currency, Ethereum, has seen a drop of around 11.2%, plunging from approximately $3,711 to $3,301 at present.

In simpler terms, the value of cryptocurrencies has significantly decreased, with approximately $1.2 billion worth being erased from the market. A large portion of these losses, about $1.07 billion, occurred when investors who had taken long positions were forced to sell due to a speech given by the Federal Reserve Chairman, Jerome Powell. He announced that the US central bank would be reducing interest rate cuts from 100 basis points as previously anticipated, instead opting for a more modest reduction of 25 basis points. This unexpected news has shaken the crypto market and the financial community at large.

“WAGMI” from DOGE co-founder

In the comment thread, an X user wrote a popular acronym WAGMI, which means “we’re all gonna make it” used for encouraging and adding optimism in troublesome periods of time not only concerning the crypto or traditional financial markets but events in the world and individual lives in general.

Shibetoshi Nakamoto responded by sharing an agreeing animated image, yet this action appears somewhat ironic.

— Shibetoshi Nakamoto (@BillyM2k) December 19, 2024

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2024-12-20 12:17