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Billy Markus Current Market Comment

The co-founder of Dogecoin, Billy Markus sent out a satirical tweet regarding the benefit of extended markets, which is essential “nothing.”

Dogecoin’s lengthy bear market began in 2021 when the price of the most popular memecoin on the market hit $0.73 courtesy to Elon Musk’s encouragement and the cryptocurrency industry’s overall bull run.

Unfortunately, because of a lack of use cases and underlying value, DOGE price swiftly fell following the market’s initial large-scale selling events from institutional investors and whales.

DOGE daily chart. Source: CoinCu

Despite Elon Musk’s infrequent tweets and interviews in which he mentions Dogecoin and says he would enable people to pay for Teslas with it, the Dogecoin decline has not halted.

Currently, DOGE is the 2nd largest PoW coin by market capitalization, just behind Bitcoin. The price correlation also doesn’t reflect much as its performance is worse than Shiba Inu (SHIB), its rival.

SHIB daily chart. Source: CoinCu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.