In a recent update on the X social platform, Dogecoin co-founder Billy Markus, better known by his online alias Shibetoshi Nakamoto, drew a striking comparison between the meteoric rise of Bitcoin and the performance of other cryptocurrencies. With Bitcoin nearing the $98,000 mark and setting new records over the past month, Markus’s commentary came at a pivotal moment. He also touched upon the dilemma faced by many Dogecoin holders: whether to sell or hold their DOGE assets.
Bitcoin vs. The Rest
Utilizing a meme featuring Shiba Inu dogs, Markus depicted Bitcoin as Kabosu, a muscular and robust dog, symbolizing Bitcoin’s significant growth spurt. In contrast, Cheems Balltze, depicted as an average-sized dog, represented the altcoins, or “literally everything else in the market right now.” This vivid illustration served to highlight the widening gap between Bitcoin’s explosive performance and that of other cryptocurrencies, including Ethereum, the market’s second-largest crypto by capitalization.
In the last 24 hours, Bitcoin has seen a more than 4% increase, reaching a new all-time high of 97,862 and edging closer to the highly anticipated 100,000 milestone. Since Sunday, when it was valued at around 89,000, Bitcoin has experienced nearly a 10% uptick. From Monday, November 11, when it was trading at 81,880, Bitcoin has surged by 19%, with its current price standing at 97,461. Meanwhile, Ethereum and XRP have also seen notable movements, with Ethereum climbing 2.85% to 3,140 after a recent 10.7% drop, and XRP astonishingly jumping 95% since November 11, breaking past the $1 threshold.
The Dogecoin Conundrum
When a follower inquired about whether to sell or hold Dogecoin, given that it was their sole cryptocurrency holding, Markus responded with characteristic humor and a dash of realism. He replied with an animated GIF that simply read, “No Idea.” This response underscores Markus’s often cautious stance on cryptocurrency investments and trading. Earlier statements revealed that Markus himself holds a modest amount of DOGE and an even smaller fraction of BTC—specifically, 0.006 BTC. Over the recent week, DOGE has seen relatively stable trading, hovering around the $0.38 price point.
Billy Markus’s insights and lighthearted approach to discussing the volatile world of cryptocurrencies offer a unique perspective on the current market trends, especially highlighting the unparalleled rise of Bitcoin compared to the broader altcoin market.
