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Dogecoin Founder's Comment on Crypto Market Crash Stirs DOGE Community

Published 04/13/2024, 04:00 AM
Updated 04/13/2024, 07:30 AM
Dogecoin Founder's Comment on Crypto Market Crash Stirs DOGE Community

U.Today - Billy Markus, known on the X social media platform as “Shibetoshi Nakamoto,” co-created meme cryptocurrency Dogecoin in 2013. Markus is famous for his playful and sarcastic takes regarding the cryptocurrency market.

On Friday, when the crypto market turned red with DOGE falling by over 19%, Markus offered his audience another peculiar comment on the state of things. His statement triggered a supportive response from the DOGE community.

DOGE co-founder's comment on BTC, ETH, DOGE crash

Markus published a screenshot of the two largest cryptocurrencies, Bitcoin and Ethereum, experiencing a major correction after the recent price surges. Dogecoin is behaving likewise. The S&P 500 index is also here, sinking into the red.

The cryptocurrency influencer Markus’ tweet is full of sarcasm, and it says, “oh no everything died we are dead.” In his manifold previous tweets over the past years, the DOGE creator has made his attitude toward crypto trading clear — he believes it to be a sort of gambling where nobody really knows why prices go up or down and cannot really predict rises and falls, since in most cases they come totally out of the blue.

On Friday, the world’s leading cryptocurrency Bitcoin suddenly entered a massive correction as it plunged from slightly above $70,000 to the $67,490 zone, losing 7% of its value worth $2,500. Later on, BTC pared some of its losses, recovering to $67,472, where it is changing hands as of this writing.

Ethereum followed suit, plunging by over 10% from $3,525 to the $3,161 level but later recovering a little and now trading at $3,259. Overall, approximately $735 million worth of cryptocurrencies has been liquidated within the last 24 hours across the market.

DOGE crashed by slightly over 19%, hitting $0.1610 briefly. Two attempts to recover undertaken by Dogecoin have led it to $0.1712.

Bitcoin halving drawing closer

This Bitcoin crash and the crypto market correction that followed have come less than a week before the approaching fourth BTC halving scheduled for April 21.

This event that happens once in every four years will again cut the newly minted amount of Bitcoin per block in half, this time taking it down to 3.125 BTC per newly generated block. Many are expecting BTC to skyrocket after that with altcoins to follow suit.

This article was originally published on U.Today

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