Dogecoin Founder Shares Hot Take on Current Crypto Market Setback

Crypto Creator Markus Offers Lighthearted Take on Market Dip

Billy Markus, the co-creator of the iconic meme cryptocurrency Dogecoin, has responded to the latest crypto market decline with his trademark ironic flair. Known on the X social media platform as "Shibetoshi Nakamoto," Markus shared his candid thoughts on the market's performance.

The world's largest cryptocurrency, Bitcoin, has dropped by over 2%, falling from $105,500 to $104,400 per coin. This decline follows a roughly 5% drop since Thursday, with Bitcoin losing the $108,800 mark.

The broader crypto market has mirrored Bitcoin's descent, with top 20 coins and those further down the list dropping between 2% and 8% over the past day.

Markus' response to the market's performance was characteristically lighthearted: "I liked crypto about 10% better yesterday."

The recent crypto market dip has been attributed to escalating trade tensions between the U.S. and China, as well as a slight dip in the personal consumption expenditures (PCE) price index, a key inflation metric. However, these factors were not enough to prevent Bitcoin from slipping further.

Markus is known for his skeptical approach to investing in and trading cryptocurrencies and non-fungible tokens (NFTs). He has previously likened trading to a mental illness and expressed skepticism about analysts' and traders' ability to accurately predict future crypto price movements.

In his tweets, Markus often shares this perspective, pointing out that "experts" typically explain Bitcoin's spikes or crashes after the fact, rather than predicting them in advance. He has also been skeptical of predictions promising Bitcoin will reach $1 million per coin.

As for his own crypto holdings, Markus has disclosed that he maintains a small amount of Dogecoin and 0.001 BTC. He famously sold nearly all of his Dogecoin stash back in 2015 to purchase a used Honda Civic automobile.