- Dogecoin cofounder Billy Markus shared a humorous meme commenting on the cyclical nature of the crypto market amidst a severe market crash.
- His witty post highlights how emotional investor behavior drives both bull and bear markets, hinting at a potential reversal.
As the cryptocurrency market buckles under intense selling pressure, Dogecoin cofounder Billy Markus — widely known as Shibetoshi Nakamoto on X (formerly Twitter) — has offered his unique take on the turmoil. In typical Markus fashion, he turned to humor to comment on the chaos, sharing a meme that struck a chord with the Dogecoin community and beyond.
The image, both witty and insightful, featured four captions cycling through the highs and lows of market sentiment:
- “Bear markets create strong memes”
- “Strong memes create bull markets”
- “Bull markets create bad memes”
- “Bad memes create bear markets”
Though lighthearted on the surface, Markus’s post cleverly highlights the emotional rollercoaster that drives crypto cycles, capturing the self-reinforcing loop of investor behavior that shapes both euphoria and despair.
Crypto Carnage Hits Hard: DOGE, BTC, SOL Slide
Markus’s post arrives at a time of deep red across the crypto charts. Bitcoin dropped below the $75,000 mark early Monday, triggering a domino effect across the market. Dogecoin plummeted 16% to $0.138, while XRP and Solana (SOL) suffered even steeper losses of over 17% each, breaching key support zones.
The sell-off wiped out tens of billions in market value, driven by macroeconomic jitters and a brutal wave of liquidations totaling $1.4 billion, according to CoinGlass. Long positions bore the brunt of the damage, with over $1.22 billion in liquidations, while shorts accounted for another $186 million.
Could the Memes Be Right Again?
Markus’s meme may be more than just a joke—it might be a sign that the cycle is about to turn. Large-scale liquidations often reflect emotional extremes, such as panic-selling, which can precede market reversals. With sentiment scraping the bottom, some traders are starting to wonder: are we near the point where “strong memes create bull markets” once again?
Only time will tell—but in the world of crypto, a little humor might be exactly what’s needed to weather the storm.
