Dogecoin Founder Shares Hot Take on Current Crypto Market Setback
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Billy Markus, who created the iconic meme cryptocurrency Dogecoin in collaboration with Jackson Palmer in 2013, has commented on the slight crypto market decline in his typical ironic style. On the X social media platform, Markus is known under the name “Shibetoshi Nakamoto.”
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The world’s largest cryptocurrency, Bitcoin, has dropped by slightly more than 2%. BTC printed a large red candle on an hourly chart, falling from $105,500. At the time of this writing, Bitcoin is changing hands at $104,400 per coin. Since Thursday, Bitcoin has declined by roughly 5%, losing the $108,800 mark.
The crypto market followed its leader, Bitcoin, into the red zone. During the past day, top 20 coins and those further down the list dropped 2%-8%.
Markus tweeted: “I liked crypto about 10% better yesterday.”
i liked crypto about 10% better yesterday
— Shibetoshi Nakamoto (@BillyM2k) May 30, 2025
Bitcoin began crashing as trade tensions between the U.S. and China have begun escalating again after the recent talks in Switzerland. After that, Bitcoin slightly rebounded as the personal consumption expenditures (PCE) price index, the key inflation metric for measuring the inflation rate, has slipped by 0.1% during the past month. This brought the overall inflation rate up to 2.1% — the lowest in 2025 so far. Still, that did not prevent Bitcoin slipping further after that.
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Billy Markus is known for his skeptical attitude toward investing in/trading crypto and NFTs. Once he even likened trading to a mental illness. Shibetoshi Nakamoto does not believe that analysts or traders are able to predict future movements of crypto prices. He pointed out that “experts” usually explain Bitcoin spikes or crashes after they happen, not before.
In his tweets, Markus often shares that take. He is also often skeptical on predictions promising Bitcoin to soar to 1 million per coin. As for his crypto holdings, Markus has several times posted that he holds a tiny bit of Dogecoin and 0.001 BTC. He sold nearly all his Dogecoin stash back in 2015 to buy a used Honda Civic automobile.
