As the crypto market suffers a steep downturn, Dogecoin co-founder Billy Markus, popularly known as Shibetoshi Nakamoto on X (formerly Twitter), has chosen to break his silence. But instead of a technical analysis or lengthy thread, Markus offered a meme. Simple, sarcastic, and thought-provoking, his post struck a chord with traders trying to make sense of the madness.
A Meme That Mirrors the Market’s Emotional Cycle
In his latest tweet, Markus shared an image that cleverly captured the rhythm of market sentiment. The meme read, “Bear markets create strong memes. Strong memes create bull markets. Bull markets create bad memes. Bad memes create bear markets.” It was more than a joke; it was an insight.
Markus, known for his sharp wit, used the meme to spotlight the emotional volatility that often drives the crypto space. While some might dismiss it as humor, many in the Dogecoin and broader crypto community saw it as a reminder that the market operates in cycles—not just of price but also of mindset. His post quickly gained traction, offering a touch of levity during widespread anxiety.
Bitcoin Dips Below $75K as Altcoins Crumble
The timing of Markus’s meme was no coincidence. Early Monday, the market entered freefall territory. Bitcoin broke through the $75,000 mark, triggering a domino effect across altcoins. Dogecoin dropped by 16%, falling to $0.138. XRP and Solana weren’t spared either, plunging more than 17% in under 24 hours. The crash wiped out tens of billions of dollars from the overall market cap, rattling investor confidence.
The sell-off intensified during the European trading hours, driven by macroeconomic fears and investor fatigue. With sentiment already fragile, the sudden dip became a self-fulfilling panic.
Liquidations Cross $1.4 Billion, Hinting at Market Extremes
Data from CoinGlass revealed that total liquidations in the crypto derivatives market reached a staggering $1.4 billion. Long positions alone accounted for over $1.22 billion as bullish traders were forced to exit amid the price collapse. Short liquidations stood at $186 million.
Such aggressive liquidation patterns typically point to extremes in sentiment—either panic selling or irrational buying. Interestingly, when these wipeouts occur, they often set the stage for a market correction or reversal, especially when driven by emotional overreactions rather than fundamental failures.
Humor Amid Havoc: What Markus’s Post Really Means
At first glance, Billy Markus’s meme seems like a light-hearted jab at crypto culture. But a closer look reveals a deeper commentary on this space’s cyclical and community-driven nature. Memes aren’t just jokes, they’re reflections of mood, confidence, and collective behavior.
By using humor instead of panic, Markus reminded everyone that crashes are part of the process. The market will continue to move through phases of fear and greed, optimism and despair. And in the middle of it all, memes like his often capture the sentiment better than any chart can.
In a market currently defined by liquidations and losses, perhaps it takes a meme to remind investors to zoom out and keep their perspective.
