Dogecoin Co-Founder Says Crypto Market Down 2%

Billy Markus, the co-founder of Dogecoin, has offered his perspective on the recent downturn in the cryptocurrency market. Known for his straightforward and often humorous approach, Markus, who goes by the name "Shibetoshi Nakamoto" on the X social media platform, has been vocal about his views on the market's fluctuations.

Markus commented on the slight decline in the crypto market, noting that Bitcoin, the world's largest cryptocurrency, had dropped by slightly more than 2%. At the time of his comment, Bitcoin was trading at around $104,400 per coin, down from a high of $105,500. This decline followed a broader market trend where top 20 coins and others further down the list experienced drops ranging from 2% to 8%.

Markus's tweet, "I liked crypto about 10% better yesterday," reflected his characteristic ironic tone. He has long been skeptical about the predictability of crypto prices, often criticizing analysts and traders who claim to foresee market movements. According to Markus, these "experts" typically explain market spikes or crashes after they occur, rather than predicting them beforehand.

The recent market setback has been attributed to various factors, including escalating trade tensions between the U.S. and China, which initially caused Bitcoin to crash. However, Bitcoin slightly rebounded after the personal consumption expenditures (PCE) price index, a key inflation metric, slipped by 0.1% over the past month. This brought the overall inflation rate to 2.1%, the lowest in 2025 so far. Despite this, Bitcoin continued to slip further.

Markus's overall take on the crypto market is one of skepticism, particularly regarding the hype around Bitcoin reaching $1 million per coin. He has often shared his views on the unpredictability of crypto prices and the risks associated with trading. Markus has also been open about his personal holdings, stating that he owns a small amount of Dogecoin and 0.001 BTC. He sold nearly all his Dogecoin in 2015 to purchase a used Honda Civic automobile.

Markus's comments come at a time when the crypto market is facing increased scrutiny and regulatory uncertainties. The recent downturn has affected not only Bitcoin but also other major cryptocurrencies like Dogecoin and Shiba Inu. Dogecoin's price dropped to $0.189, losing 7.8% overnight, while Shiba Inu also experienced a significant decline.

Despite the challenges, Markus remains optimistic about the long-term prospects of the crypto market. He advises investors to adopt a long-term investment strategy, emphasizing the importance of patience and diversification to mitigate risks. According to Markus, the current setback is an opportunity for investors to reassess their portfolios and consider diversifying their holdings.