Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Billy Markus, who developed and launched the original meme cryptocurrency Dogecoin in collaboration with Jackson Palmer in 2013, has taken to social media platform X (formerly known as Twitter) to share his take on the bloodbath on the crypto and stock markets that was observed just recently.
Sharing a screenshot of possibly the list of the assets he is invested in, Markus (known on X as “Shibetoshi Nakamoto”) commented on what is happening, triggering a wide response from his army of followers.
DOGE founder's crypto and S&P 500 tweet
Billy Markus has shared a screenshot of an asset list (the part of it showing the largest ones, most likely) bleeding in a heavy decline. Those visible on it are the S&P 500, Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE).
Between Monday and Tuesday, the world’s primary cryptocurrency, Bitcoin, lost 5.88%, crashing from $72,370 to the $69,390 level and losing around $2,500 – similar to what Markus’s chart shows.
Ethereum, in his screenshot, shows a decline of $135 as it dropped to $3,512 and Dogecoin fell to $0.190. All of these cryptos plunged, along with the leading S&P 500 index, which suggests that a close correlation between cryptocurrency assets and the S&P has currently resumed.
The tweet of which the screenshot was a part shows a mix of emotions - surprise, irritation and a bit of anger about this picture painted by the red market.
Under the tweet, many of his followers suggested that the current strong inflation continues to push the markets down heavily. Many showed their puzzlement, or comments full of doubts about major cryptocurrencies, endorsing little-known coins with low market capitalization.
Billy Markus suggests ideal Bitcoin price
As reported by U.Today earlier, Markus commented on the Bitcoin decline by suggesting that the flagship cryptocurrency should be turned into a stablecoin. The Dogecoin cofounder also proposed a price that it should be pinned at - $69,420.
While answering a question about why he picked this particular number, Markus stated that this is a meme number, and “memes are the most important thing in the universe.”
While Bitcoin has been making its surges and pullbacks recently, the cryptocurrency community keeps counting the days before the next halving takes place. Now, there are nine days left to that fundamental event.
Tomiwabold Olajide
Gamza Khanzadaev
Arman Shirinyan
