Dogecoin co-creator Billy Markus, also known as Shibetoshi Nakamoto, lit up the crypto space with a short but sweet comment, which perfectly reflects the mood of a market that has endured one of its most volatile periods in months.
At the time of Markus's post Bitcoin, the industry standard, is trading at $109,406 after dropping to $104,700 earlier this week, while Ethereum is going for around $3,812 with daily sales of over $17 billion.
Dogecoin, the creation of Markus and Jackson Palmer, is currently at $0.171, with a 24-hour gain of 1.9% and a market capitalization of $24.6 billion. That puts it in ninth place on the list of digital assets by value.
The total value of all cryptocurrencies is now close to $2.2 trillion, up from $2.08 trillion at the start of October, but it is still common for the value to change by more than $100 billion during the day.
According to the latest futures data from CoinGlass, there have been more than $226 million in liquidations in the last 24 hours, with short positions accounting for almost 70% of the wipeouts. Markus's quip can be seen as a commentary on these dynamics — recognition that, despite repeated liquidation waves, systemic failures have yet to materialize.
Memes rule crypto
DOGE, which was launched in 2013 as a parody of Bitcoin, is a good example of how humor and high-stakes finance can mix in the crypto world. Markus has often downplayed his role in the industry, but traders still turn to him for perspective whenever the market gets choppy.
This statement highlights something that veteran industry members are well aware of: in the world of crypto, sometimes just making it through is seen as a major achievement.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team