The creator of Dogecoin bought this cryptocurrency ‘for the first time in 8 years’, right in the last huge price drop

Billy Markus is the man who developed Dogecoin with software engineer Jackson Palmer in 2013, starting out as a joke aimed at bitcoin and the emerging crypto market.

However, both of these men sold off their Dogecoin holdings not long after its creation. According to insiders, they have not been able to withstand the pressure and increasing ridicule from the online community. All of the DogeCoin held by Markus was sold by him with the proceeds only enough to buy a used Honda Civic.

But while Palmer has retreated behind the scenes, from the public eye, Markus remains an active voice in the Dogecoin community. And yesterday, June 22, in the context of the cryptocurrency market witnessing a severe sell-off and price drop, Markus said that he had bought back this Dogecoin for the first time after a long time on the sidelines.

“I bought dogecoin after 8 years vowing never to buy crypto again, an hour ago,” he shared on Twitter. “I checked its price 7 times. The amount went up 10% and now it’s back up 3%. Anyway, this still looks sane.”

Billy Markus (left) and Jackson Palmer (right)

At the moment, Dogecoin is trading at around $0.21. Last month, Dogecoin was worth more than $0.7, reaching a high on the day Elon Musk made several crypto-related mentions during his time as host of Saturday Night Live. The CEO of Tesla and SpaceX is one of Dogecoin’s most prominent supporters, claiming that it could become the “currency of the internet” and even hinting that it could one day be used on the internet. Mars.

Of course, the recent collapse in Dogecoin’s value has partly reflected the broader crypto market.

More than a third of its value has been wiped out since last week, yet it is still growing on a cumulative year-over-year basis. In July 2020, one Dogecoin was worth only 0.01 USD.

Consult Independent