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Billy Markus, the programmer who cofounded Dogecoin and now goes by Shibetoshi Nakamoto on X, found his own way to react to Bitcoin smashing through the $125,000 line. He did not go into any technical details or talk about macro policy. Instead, he dropped a meme — a half-collapsed building awkwardly supported by wooden beams, with the words "My mental health" on the building and "Bitcoin doing well" on the supports.
The joke really hit a nerve for anyone who has been through this market. Bitcoin may be hitting record highs, and there are loads of talk about six-figure rallies and ETF flows, but when it comes to the emotional side of things, the story is different.
Markus nailed it in one frame: the precarious balance between celebrating price charts and just getting by under pressure.
How's Dogecoin doing?
Not well. The coin is trading at $0.2583 against the dollar, down almost 3% in the last 24 hours. When compared to Bitcoin, it is worth 0.00000209 BTC, down almost 2%, showing how altcoins can lag even when the flagship asset is setting new all-time highs.
The charts for both DOGE/USD and DOGE/BTC show a pattern of volatility that has kept the token in a tight band since early summer, with no breakout in sight for now.
Markus's meme, paired with Dogecoin's underperformance, highlights the market's divide. While Bitcoin continues to break records and traders share price targets, the reality for many altcoins is more muted, but a single meme from the Dogecoin creator sums it all up best.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team