Dogecoin, the original meme cryptocurrency, made headlines last week with a staggering 21% price jump. The coin’s co-creator, Billy Markus, known for his ironic commentary on the crypto market, shared his thoughts on the rise, though sticking to his usual sarcastic tone.
Between Wednesday and Saturday, DOGE soared from $0.10745 to a high of $0.13080, a near 22% increase. This sudden spike left many in the community puzzled. Markus, who co-developed Dogecoin in 2013 with Jackson Palmer, admitted he had “no idea” why the price surged so dramatically. In a lighthearted Q&A with his followers on the X platform, Markus made it clear that predicting crypto price movements isn’t something he’s interested in or capable of doing.
In response to a user who questioned his short response to such a significant question, Markus quipped, “It’s pretty much my answer to everything crypto price related.” His ongoing criticism of the unpredictable nature of cryptocurrency prices highlights the irony of the entire space, particularly in the realm of meme coins.
Dogecoin’s Price Jump Driven by Whale Activity
One likely contributor to DOGE’s price surge was the whale activity reported during the price rise. In just 48 hours, major crypto holders purchased a collective 1.4 billion DOGE, translating to approximately $140 million in fiat. Such significant purchases tend to create ripples in the market, pushing prices higher. Over the weekend, another unknown whale acquired an additional 1.4 billion DOGE, leading Markus to respond with a simple “wat,” reflecting his bemusement at the market’s dynamics.
Despite his central role in Dogecoin’s creation, Markus reiterated last week that he has no intention of creating or being involved with any other cryptocurrency, meme coin or otherwise. His clarification serves as a reminder to potential investors to be wary of false claims surrounding his involvement in other projects.
As Dogecoin continues its wild ride in the crypto market, its creator remains detached, critical, and amused by the unpredictability of the world he helped build.