Dogecoin Founder Reacts to the Sharp Decline of Bitcoin, Dogecoin, and Ethereum
Today, U.S. reports that Dogecoin (DOGE) founder Billy Markus (online alias Nakamoto) posted a mysterious message on social media discussing his views on the sharp decline in prices of Bitcoin (BTC), Dogecoin (DOGE), and Ethereum (ETH).
Markus shared the prices of these coins along with a statement: "On the third day of my resignation, I'm quite happy."
The prices in the post show that BTC, DOGE, and ETH have all dropped significantly, reflecting a strong bearish sentiment in the market. Due to sell-offs, Bitcoin ETF funds have seen a particularly large outflow, with short sellers dominating the market.
Although Markus mentioned the decline, his tone carried a hint of humor and sarcasm, leading many to believe he might have deeper intentions, possibly wanting to buy in during the price dip and profit when prices rise again.
This post sparked heated discussions among Markus's fans and numerous crypto users. Some believe that the price drop presents a good opportunity for investors to buy the dip in preparation for the next bull market.
Bitcoin had previously broken the $100,000 mark, rising to $108,200. Many early investors who bought at low prices seized the chance to cash out for profits.
Currently, Bitcoin is trading at $93,726.91, having dropped 8.15% within the last 24 hours. Its market cap had previously surpassed $2 trillion, but has now fallen to $1.85 trillion. However, the market trading volume increased by 24.19%, reaching $119.02 billion.
Dogecoin has dropped 20.49% in the last 24 hours, with a low price of $0.289. Market trading volume surged by 107.95%, hitting $13.58 billion. Ethereum's trading volume also increased by 47.64%, reaching $75.88 billion, despite a price drop of 12.33%, with a low price of $3,230.49.
Analysts say that the surge in trading volume indicates that investors still have confidence in these coins, possibly preparing for an upcoming market rebound.
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