Dogecoin Founder Reacts to Crypto Market Crash
Dogecoin (DOGE) founder Billy Markus, known as Shibetoshi Nakamoto, reacted to the recent cryptocurrency market crash following a period of significant rally.
Bitcoin (BTC) had reached an ATH of $73,835 before the market downturn last week, culminating in a substantial crash on Tuesday.
CoinGlass data reveals $637.31 million in liquidations over the past 24 hours, with $526.49 million in long liquidations and $110.82 million in short liquidations, indicating an unexpected market movement.
Bitcoin, the leading cryptocurrency by market capitalization, experienced a notable 7.25% price drop in the last 24 hours, currently trading at $64,030.
This decline suggests a loss of bullish momentum, potentially signaling the anticipated pre-halving retracement period.
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In response to the market crash, Dogecoin founder Billy Markus humorously remarked on social media, stating that crypto is “awesome” but jokingly suggesting that one must have “poor mental health” to appreciate it.
Markus, who co-created DOGE with Jackson Palmer in 2013, has previously expressed skepticism about cryptocurrencies as long-term investment assets.
He recently shared a video illustrating irrational behavior, likening it to the experience of holding digital assets.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
