Dogecoin Founder Comments on Bitcoin’s Price Crash: Details

Humorous Reaction to Bitcoin’s Price Drop Billy Markus, the co-founder of Dogecoin known on the X platform as "Shibetoshi Nakamoto," responded to Bitcoin’s recent 5% drop with a lighthearted comment. In his tweet, he remarked, “Bitcoin had some fast food this morning,” accompanied by a chart illustrating the significant price decline. His playful comment suggests that Bitcoin experienced a sudden and rapid drop, akin to indulging in fast food.

Market Sell-Off Hits Bitcoin This humorous remark came amidst a broader cryptocurrency market sell-off. According to CoinMarketCap, the total market capitalization of cryptocurrencies dropped by 6.28% in the last 24 hours, reaching $3.35 trillion. Bitcoin's price decreased by 5.61%, currently trading at $95,607. Other major cryptocurrencies also suffered losses, with Ethereum falling by 8.3% and Dogecoin dropping nearly 12%. Reasons Behind Bitcoin's Decline Bitcoin's recent dip is part of a larger bearish trend in the market. Data from CoinGlass shows over $711 million in liquidations across the cryptocurrency market. On Monday, Bitcoin reached $102,735, marking its highest level since December 19. However, its climb above $100,000 was short-lived. By Tuesday, Bitcoin had plunged to a two-week low of $96,105, partly due to a sell-off in U.S. equities, driven by rising Treasury bond yields. Macroeconomic Data Impacted the Market U.S. economic reports further dampened market sentiment. A report from the Institute for Supply Management (ISM) revealed that the service sector grew faster than expected, with prices reaching their highest levels since early 2023. Additional data showed that U.S. job openings exceeded forecasts. Bitcoin Under Pressure Bitcoin continued its decline on Wednesday, hitting an intraday low of $95,222 and breaking below the 50-day Simple Moving Average (SMA) at $97,689. This level was a critical support in December before Bitcoin’s recovery at the beginning of 2025. Investor Expectations On a macroeconomic level, investors are closely watching upcoming labor market data and the minutes from the Federal Reserve’s December meeting. These reports are expected to influence market movements and determine the future direction of Bitcoin and other cryptocurrencies.

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