Billy Markus, co-creator of Dogecoin alongside Jackson Palmer in 2013, shared his views on the recent 21% surge in the coin’s price. Markus, known for his ironic tone and critical stance on the cryptocurrency market, offered his perspective on the price increase.
Dogecoin’s Impressive Surge
Last week, Dogecoin, the largest meme cryptocurrency by market capitalization, saw an astonishing 21% rise, catching the attention of both the crypto community and meme coin enthusiasts. From Wednesday to Saturday, DOGE soared from $0.10745 to a local peak of $0.13080, marking a significant 22% surge.
Related articles: Watch Out for Dogecoin! Analyzing Its Potential 45% Price Surge Ahead
Markus took to social media platform X to host a “questions and answers” session with his followers. When asked about the factors behind the price jump, he humorously admitted that he had “no idea” what caused the surge.
One follower remarked that his response seemed too brief for such a critical question, to which Markus replied, “It’s pretty much my answer to everything crypto price related.” Despite his responses, Markus noted that people continue to ask him about crypto price fluctuations.
Whale Activity Fuels DOGE Surge
While Dogecoin experienced this price rise, large holders, known as whales, purchased significant amounts of DOGE. In a span of 48 hours, 1.4 billion DOGE, valued at roughly $140 million, was bought by these large investors.
Related article: Dogecoin Sees Major Whale Activity: Will DOGE Break Through Resistance?
Additionally, an unknown whale acquired another 1.4 billion DOGE over the weekend. Markus, responding to the whale purchase, tweeted a simple “wat” to express his surprise.
Markus also reiterated his position on cryptocurrencies, emphasizing that Dogecoin and Bells coin are the only projects he has been involved with. He warned that anyone claiming otherwise is attempting to mislead the public.
Markus firmly stated that he has no plans to create any new cryptocurrency or join a team developing one, especially any new meme coin. Markus regularly issues such clarifications as users often inquire about his future involvement in new crypto projects.
