Dogecoin Founder Says ‘WAGMI’ as Bitcoin, DOGE Prices Crash

Billy Markus, one of the two founders of the original meme cryptocurrency Dogecoin, launched in 2013, has published a post where he commented on the massive price fall faced by Bitcoin, Ethereum and Dogecoin, along with the rest of the crypto market, over the last 24 hours.

On social media, Markus is widely known under the alias Shibetoshi Nakamoto. In this post, the popular "WAGMI" acronym was mentioned, which is supposed to be bullish and optimistic.

Markus reacts sarcastically as BTC, DOGE, ETH crash

Known for his playful, ironic and, frequently, sarcastic comments related to crypto market volatility, Markus responded in his typical manner. Publishing a post with a chart, where three top 10 cryptocurrencies, including one created by him – Bitcoin, Ethereum and Dogecoin – Markus wrote in his X post in capitals: “SO GLAD I QUIT MY JOB.”

SO GLAD I QUIT MY JOB pic.twitter.com/5GDztFIJal

— Shibetoshi Nakamoto (@BillyM2k) December 19, 2024

In that screenshot, Bitcoin dropped below the $98,000 level, but in the past hour, the world’s flagship crypto has extended its crash by going down to $96,076 per coin. Overall, since Thursday, this constitutes a 6.45% decline from the $102,000 price mark.

Shibetoshi Nakamoto’s brainchild, Dogecoin, has crashed harder, falling by almost 17% from $0.36668 to $0.30491, where it is currently changing hands.

The second biggest cryptocurrency by market cap, Ethereum, has experienced an 11.2% crash, rapidly declining from $3,711 to $3,301 as of this writing.

The crypto market has faced stunning losses as $1.2 billion worth of crypto has been wiped out. Among those, the liquidations of long positions constituted the majority of the losses - $1.07 billion triggered by the speech of the Fed Reserve chairman Jerome Powell that the U.S. central bank intends to drastically reduce interest rate cuts. The next easing will be 25 basis points rather than 100, as was expected by crypto fans and the financial community in general.

"WAGMI" from DOGE cofounder

In the comments thread, an X user wrote the popular acronym WAGMI, which means “we’re all gonna make it,” used for encouraging and adding optimism in troublesome periods, not only concerning the crypto or traditional financial markets but regarding events in the world and individual lives in general.

Shibetoshi Nakamoto reacted by posting an animated GIF to agree with that statement. But that response also seems rather ironic.

pic.twitter.com/X0d1zOIJWu

— Shibetoshi Nakamoto (@BillyM2k) December 19, 2024