Dogecoin Founder Announces When The Bear Market Will End

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  • One of the founders of DOGE expressed his thoughts on how long the current bear market will last and why.

He parodied Bitcoin with Jackson Palmer in 2013. Dogecoin (DOGE) Billy Markus, the IT engineer who created it, took to Twitter to share his views on the current crypto bear market, the reasons why, and how long it might take.

“It will get better eventually, maybe in 4 years”

In a tweet that was partly a joke, Markus revealed that he believes the crypto market “will eventually recover.” However, noting that this may take some time and “not soon,” the crypto proponent estimates the waiting period could be roughly four years.

“It’ll get better eventually,

But not immediately

maybe 4 years from now.”

When asked whether this crypto sale would be “quick and aggressive” and result in a strong bounce, Markus said he disagreed, citing the dire state of the global economy.

The previous crypto winter had also lasted roughly four years, starting in January 2018 and continuing until 2021, when Bitcoin hit an all-time high of $63,500 in April and then surged to around $69,000 in November.

At the time of this writing, the flagship cryptocurrency is rebounding and changing hands at $22,501 after facing another drop and falling as low as $21,000. Dogecoin price Thanks to Elon Musk’s debut on Saturday Night Live on US television, it is trading at $0.055, down nearly 92 percent from its historic high of $0.7376 last May, while Ethereum is at $1,225.

Dogecoin will launch another big project, here are the details

As shared by Dogecoin developer Michi Lumin, it refers to building blocks to create Dogecoin projects. libdogcoinsoon v0.1It can be marketed in .

In recent months, the Dogecoin team has followed its rival Shiba Inu in development, libdogcointhrough the first phase of RadioDoge, Gigawallet and focused on laying the foundation for many future projects. In April, Crypto news sites reported that the first time a Dogecoin transaction was sent without internet via RadioDOGE, marking a historic moment for the meme cryptocurrency.

RadioDogefocuses on using low-cost radio technology (HF/LoRaWAN) in conjunction with the global Starlink satellite network to provide inexpensive, large-scale access to Dogecoin for individuals living outside the reach of normal internet infrastructure. This will allow Dogecoin to be able to transact without using the internet.

GigaWallet aims to offer a public drop-in solution for internet-based trading and tipping by integrating a noncustodial wallet into the Dogecoin network.

The Gigawallet and RadioDoge projects aim to get the Dogecoin ecosystem ready for rapid base adoption, citing the fact that 1.7 billion people around the world do not have access to banks. Dogecoin Foundation‘s mission is said to be to make Dogecoin the de facto medium for the exchange of goods and services globally.

Whales take action as Dogecoin enters extreme fear zone

According to data shared by WhaleStats, Dogecoin is back on the list of coins that BSC whales are after. BSC—Binance Smart Chain—now known as BNB Chain—is compatible with Ethereum and forms the basis of many cryptocurrencies popular with investors.

The biggest BSC investors are interested in DOGE.

WhaleStats, due to the decline in the rest of the market Dogecoin price thanks to the whales who took advantage of their fall; He shared that Dogecoin, which is on the BNB chain, has reappeared in the top 10 list among the most purchased BSC-based tokens in the last 24 hours.

The leading meme cryptocurrency is featured on this list along with BNB, ETH, AAVE, USDC and five other altcoins, while DOGE-BSC is ranked eighth here.

At the time of this writing, BSC whales are holding a total of $1,944,257 worth of Dogecoins; which means 212,778,360 tokens, which make up 1.08 percent of these users’ portfolios.

Other popular altcoins (ADA and XRP) among BSC whales make up 1.46 percent and 1.32 percent of the whale portfolio, respectively.

A few hours ago, Dogecoin was also listed in the top 10 coins by trading volume.

DOGE enters “extreme fear” territory

@DogecoinFear on Twitter shared According to a recent tweet, the Fear and Greed Index for the original meme cryptocurrency has dropped to 13, hence the meme coin has entered extreme fear territory.

While this normally indicates that DOGE investors are particularly worried, it also Dogecoin price It is also generally interpreted as a good time to buy, as it is located at an appropriate level.

dogecoin price

SkyBridge Capital increases its uptake in these 2 cryptocurrencies

On Monday, Anthony Scaramucci, founder and CEO of the SkyBridge Capital wealth management fund, joined CNBC’s Squawk Box to share that he remains optimistic despite the current bear market and that his fund is buying more BTC and ETH.

Emphasizing that Bitcoin still accounts for more than 50% of the entire crypto market, the investor commented that “there is a flight to quality here”.

Overall, urging investors to “remain disciplined”, Scaramucci advised them not to panic as crypto prices face a heavy drop.

You can check the price movements here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.


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