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Dogecoin founder Billy Marcus gave an optimistic message on the 20th (local time) with a cheerful response to the sharp declines in Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE).
According to cryptocurrency media outlet UToday, Billy Marcus is active on social media under the name ‘Shibetoshi Nakamoto’ and often makes sarcastic and ironic comments about the volatility of the cryptocurrency market. This time, he posted a chart with the message, “It’s a good thing I quit my job,” referring to the steep decline of top cryptocurrencies like Bitcoin and Dogecoin.
Recently, Bitcoin price dropped from $102,000 to $93,000. Dogecoin took an even bigger hit, dropping more than 25% from $0.36668 to $0.27471.
The decline is believed to be due to Federal Reserve Chairman Jerome Powell’s announcement of interest rate cuts. He said a 0.25 percentage point interest rate cut is planned for 2025, a significant reduction from the previously expected 1%. The announcement caused dismay among investors and triggered a market-wide sell-off.
According to UToday, around $12 billion worth of assets were lost in the cryptocurrency market in the past 24 hours, with $10.7 billion coming from the liquidation of long positions. This large-scale liquidation increased selling pressure on major assets such as Bitcoin, Ethereum, and Dogecoin, causing additional declines.
The social media user left an optimistic message, referring to the phrase “WAGMI (We’re All Gonna Make It),” which is often used in the cryptocurrency community. Billy Marcus responded with an animated GIF and seemed to agree with the message However, his response seems to contain unique sarcasm and sarcasm.
Dogecoin Founder Remains Optimistic Amidst Crypto Market Crash
Despite the recent sharp decline in Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE), Dogecoin founder Billy Marcus, also known as ‘Shibetoshi Nakamoto’, has responded with characteristic optimism.
Taking to social media, Marcus posted a chart illustrating the downward trend of the cryptocurrencies, quipping, “It’s a good thing I quit my job.” This humorous remark, alongside his frequent use of sarcasm and irony when discussing market volatility, has become a trademark of Marcus’ online persona.
This downturn follows Federal Reserve Chairman Jerome powell’s proclamation of reduced interest rate cuts for 2025, leading to widespread investor unease and a market-wide sell-off. Crypto assets lost an estimated $12 billion in the past 24 hours,with $10.7 billion stemming from liquidated long positions. This widespread liquidation exacerbated selling pressure on major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin.
Despite the negative market sentiment,a Twitter user shared an encouraging message using the popular crypto community phrase “WAGMI (we’re all Gonna Make It),” to which Marcus replied with an animated GIF,ostensibly echoing the sentiment with his signature sarcastic flair.
