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Dogecoin Creator: I Made $90 Billion Cryptocurrency in Few Hours

Fri, 04/07/2023 - 09:29
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Arman Shirinyan
Creator of biggest meme coin of them all shares interesting detail and even has confrontation with user
Dogecoin Creator: I Made $90 Billion Cryptocurrency in Few Hours
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In a recent Twitter exchange, Dogecoin's creator, Billy Markus, defended his cryptocurrency creation, which he claims he built in just a few hours. It later reached a staggering $90 billion market cap for a day, 8.5 years after he left the project. The conversation started when entrepreneur and investor Anthony Pompliano questioned whether there were any examples of a $1 billion business built without employees.

Markus was quick to respond, sharing the story of Dogecoin, the popular meme-based cryptocurrency he co-founded in 2013. However, another Twitter user, Pjb, challenged Markus by suggesting that Dogecoin was merely a copy and paste of Litecoin, another well-known cryptocurrency. Markus fired back, defending his creation by drawing an analogy between the user's tweet and using an already-created keyboard.

The Dogecoin creator's defense comes amid recent developments involving the meme-inspired digital currency. Dogecoin gained considerable attention when Twitter changed its logo to the Dogecoin logo, sparking a rally that saw the cryptocurrency gain around 30% in value. However, the price surge was short-lived, as the rally quickly reversed and the value of Dogecoin dropped.

Dogecoin's brief price increase and subsequent decline highlight the volatile nature of the cryptocurrency market, particularly for assets like Dogecoin that lack a solid foundation or real world use cases. While it is true that Dogecoin has generated significant profits for some investors, many experts argue that its success is primarily due to hype and social media influence, rather than any inherent value or utility.

Nevertheless, Dogecoin remains a popular digital asset, with a dedicated community of supporters and investors. The Twitter exchange involving its creator serves as a reminder of Dogecoin's unique and somewhat controversial history.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.