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Crypto Market Earthquake! Dogecoin Founder Resigns, Three Major Cryptocurrencies Plummet
According to American media reports, Billy Markus (commonly known as Nakamoto), the founder of Dogecoin (DOGE), recently posted an interesting message on social media, sharing his thoughts on the sharp decline in the prices of Bitcoin (BTC), Dogecoin (DOGE), and Ethereum (ETH).
Nakamoto shared screenshots of these cryptocurrencies' prices, captioning: "Just on the third day after resigning, seeing this market, I feel quite happy inside."
From the screenshots, it can be seen that BTC, DOGE, and ETH have all dropped significantly, with a prevailing bearish sentiment in the market. Due to massive sell-offs, Bitcoin ETF funds are severely flowing out, with short sellers completely dominating.
Although Nakamoto mentioned the drop, there was a hint of humor and sarcasm in his words, making it feel like he had something more to say. Some netizens speculated that he might be looking to buy in during the price drop, aiming to profit when prices rise again.
This post sparked heated discussions among Nakamoto's fans and many cryptocurrency users. Some believe that the price decline is a good opportunity to buy at the bottom, preparing for the next bull market.
Bitcoin previously broke the $100,000 barrier, peaking at $108,200. Many early investors who bought at low prices took the opportunity to make significant profits and sold off.
Currently, Bitcoin's trading price is $93,726.91, down 8.15% in the last 24 hours. Its market cap previously exceeded $2 trillion but has now shrunk to $1.85 trillion. However, the market trading volume has increased by 24.19%, reaching $119.02 billion.
Dogecoin has dropped 20.49% in the last 24 hours, hitting a low of $0.289. However, the market trading volume surged by 107.95%, reaching $13.58 billion. Ethereum's trading volume also increased by 47.64%, reaching $75.88 billion, despite a price drop of 12.33%, hitting a low of $3,230.49.
Analysts state that the significant increase in trading volume indicates that investors still have confidence in these cryptocurrencies, possibly preparing for an upcoming market rebound.
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