Skip to main content

DOGE Plunges 9% As Creator Reveals How Much He Holds In This Cryptocurrency

Billy Markus, creator of popular cryptocurrency Dogecoin (DOGE) has disclosed his holding in this cryptocurrency. Via his Twitter account under the user Shibetoshi Nakamoto, Markus addressed his role on the project and replied to questions made by other users.

Related Reading | Tesla To Accept Dogecoin For Merchandise, Token Soars 30%

Markus and Jackson Palmer co-created DOGE back in 2013 as a parody to Bitcoin. Since its inception the cryptocurrency has gained popularity and hence increased its value from well below the $0.010 to an all-time high north of $0.70 providing many earlier supporters of this project, and those that hype in due to Elon Musk’s tweets, with massive gains.

DOGE’s surge in 2021, the attention it has received from retail investors, Musk and crypto personalities have made Markus’ twitter account one of the most recognizable and with the most followers. The co-inventor of the Shiba Inu inspired cryptocurrency has had to constantly remind new investors that he is no longer involved with the Dogecoin project.

As he revealed his DOGE holding, far less that what many would have assumed, Shibetoshi Nakamoto claimed the following:

Yet another reminder: I don’t speak for dogecoin. I am not on the project. I am a community member. I hold about 220k doge. I will defend those who I feel are actively making the space better. I will discourage those who I feel aren’t. I will talk about whatever I want.

Markus lives up to the spirit of DOGE, he avoids “entitlement” and claims to be all about this crryptocurrency’s community supported by volunteers. Thus, Markus told his followers that he “will never” go back to coding DOGE, he has been very open on his stance about the crypto industry and related projects:

(…) working on a crypto project is terrible as I have actually found the more you do for people, the more entitled they get and worse they treat you. I respect the developers a lot for volunteering to do so for all these years.

DOGE Advances On The Back Of Its Community?

The Dogecoin project is support via the Dogecoin Foundation, brought back on August 16th, 2021, with the help of Elon Musk, and Vitalik Buterin, the inventor of Ethereum. This non-profit organization published a trailmap for DOGE.

Related Reading | Elon Musk Sells Tesla Shares For $5B. Will He Buy Dogecoin?

Billy Musk is part of said foundation in the role of “community and memes” advisor alongside Jared Birchall, a representative for Elon Musk, Buterin, and Max Keller a Dogecoin core developer. According to the the trailmap, Dogecoin is bound to receive more use cases and implementations in the future.

Source: Dogecoin Foundation

In the meantime, DOGE has been correcting in the 24-hours as the general sentiment in the market turns bearish and major cryptocurrencies bleed into critical support. Dogecoin lost its spot in the crypto top 10 by market cap but remains one of the 20 most valuable projects in the crypto space.

Dogecoin trends to the downside in the 4-hour chart. Source: DOGEUSDT Tradingview

from NewsBTC https://ift.tt/3z3JPIh
via IFTTT
Labels:

Comments

Post a Comment

Any questions, Please.

Popular posts from this blog

TA: Ethereum Remains Strong, Why ETH Could Rally Above $2.3K

Ethereum is trading in a positive zone above the $2,150 support zone the 100 hourly SMA against the US Dollar. ETH price is likely to rally if there is a clear break above $2,300. Ethereum is trading in a positive zone above the $2,100 and $2,150 support levels. The price is now trading above $2,100 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,140 on the hourly chart of ETH/USD (data feed via Kraken). The pair start a fresh rally above $2,300 as long as it is above the $2,000 support zone. Ethereum Price Is Showing Positive Signs After forming a base above $2,000, ethereum started a steady increase . ETH broke the $2,200 resistance zone and it settled nicely above the 100 hourly simple moving average. The price even spiked above the $2,250 resistance level. However, the price seems to be struggling to gain pace above $2,250, similar to bitcoin . A high is formed near $2,285 and ether is now correcting lower. There was...
Post a Comment
Read more

I Stand By My $100,000 Bitcoin Price Target, Anthony Scaramucci

Anthony Scaramucci has again reiterated his stand on why he thinks bitcoin will still hit the $100,000 price target he had earlier set. Scaramucci had put forth this forecast when he was on Yahoo! Finance earlier in the year. The founder explained that bitcoin could easily be trading at $100,000 in 12 months. Anthony Scaramucci who founded Skybridge Capital in 2005 has not always been bullish on bitcoin. But has slowly come around over the years and has now gotten into bitcoin. The CEO believes that more and more funds will get into bitcoin as time passes. His message to other money managers had been that he believed the performance of their funds will eventually be benched off of bitcoin. Related Reading |  Bitcoin Whale Warns Of “November 2018 Vibes.” What This Means Scaramucci took this one step further when he founded the Skybridge Bitcoin Fund early this year. An institutional-grade fund that was created specifically to invest in bitcoin, which it considers to be the larg...
Post a Comment
Read more

Whale clusters suggest that this key Bitcoin level can trigger an explosive rally

Bitcoin whale clusters show $57,046 and $60,045 are the crucial support and resistance levels in the short term. The price of Bitcoin ( BTC ) is attempting to break the $60,000 resistance level after more than a week of ranging. Whale clusters show that $57,046 and $60,045 are the crucial support and resistance areas in the short term.  In other words, the probability of a strong breakout in the foreseeable future would increase substantially if Bitcoin stays above $57,046 and continues to test $60,000 resistance. Why whale clusters are important for Bitcoin Whale clusters form when high-net-worth investors buy or sell Bitcoin at a certain price and do not move their holdings thereafter. As such, a whale cluster support typically serves as a strong macro support area for Bitcoin because whales tend to buy more when BTC falls to a level where they initially bought BTC. On the flip side, a whale cluster resistance area would likely hold up as a sell area because whales are mo...
Post a Comment
Read more