Billy Markus, co-founder of Dogecoin (launched in 2013), recently commented on the significant price decline experienced by Bitcoin, Ethereum, and Dogecoin, along with the broader cryptocurrency market over the past 24 hours. Known by his social media alias Shibetoshi Nakamoto, Markus took to X (formerly Twitter) to share his thoughts in his characteristic sarcastic and ironic style.
Markus posted a chart showing the price drop of the top three cryptocurrencies—Bitcoin, Ethereum, and Dogecoin—accompanied by the message, “SO GLAD I QUIT MY JOB.” The chart highlighted Bitcoin’s fall below $98,000, with the price continuing to decline to $96,076 per coin, representing a 6.45% drop from $102,000 since Thursday. Dogecoin, the cryptocurrency Markus helped create, experienced a more significant 17% drop, falling from $0.36668 to $0.30491. Ethereum also faced an 11.2% decline, dropping from $3,711 to $3,301.
Overall, the crypto market saw losses exceeding $1.2 billion, primarily due to the liquidation of long positions—$1.07 billion of which occurred following a statement by Federal Reserve Chairman Jerome Powell, signaling that the U.S. central bank intends to implement smaller interest rate cuts than previously expected.
In response to a comment using the acronym "WAGMI" (short for "we're all gonna make it"), a popular phrase meant to inspire optimism during challenging times, Markus humorously posted an animated GIF, agreeing with the sentiment in a tongue-in-cheek manner.
