April 13, 2024 10:09 AM | 2 min read |
In the wake of a significant downturn in the cryptocurrency market on Friday, Billy Markus, the co-founder of Dogecoin (CRYPTO: DOGE), shared an unusual statement on X, formerly known as Twitter, about the meme currency.
On a day marked by widespread losses across major cryptocurrencies, including Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin itself, Markus’ playful commentary stood out amidst the sea of red.
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Following a sharp decline, Dogecoin plummeted by over 19%. Markus shared a sarcastic tweet that garnered supportive reactions from the DOGE community on Friday, “Oh no, everything died; we are dead.”
oh no everything died we are dead pic.twitter.com/5uuQQvBp5r
— Shibetoshi Nakamoto (@BillyM2k) April 12, 2024
Responding to his post on X, one of his followers shared a chart of the S&P 500 and said, “It’s so over.” Markus replied, saying, “We will never recover.”
we will never recover
— Shibetoshi Nakamoto (@BillyM2k) April 12, 2024
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Another follower shared Bitcoin’s market position, and Markus again said the market is “super dead.”
super dead
— Shibetoshi Nakamoto (@BillyM2k) April 12, 2024
On Friday, the market’s downturn saw Bitcoin losing 7% of its value, dropping to the $67,490 mark, while Ethereum experienced a more than 10% fall to $3,161, though both cryptocurrencies later saw minor recoveries.
The total liquidations in the cryptocurrency market within 24 hours reached approximately $735 million.
The recent market correction occurred less than a week before the anticipated fourth Bitcoin halving scheduled for April 21, which will reduce the reward for mining a new block by half to 3.125 BTC.
This event, expected to happen once every four years, is closely watched by the community. Many anticipate a potential surge in Bitcoin’s price and a ripple effect on altcoins, including Dogecoin.
Photo: Shutterstock
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