- Billy Markus is still floored by Dogecoin‘s wild ride.
- Dogecoin has taken on a life of its own.
- Markus hints at investment regrets.
Billy Markus and Jackson Palmer launched Dogecoin in 2013 as a lighthearted jab at the seriousness of the crypto industry. Over the years, Dogecoin has built a reputation as a positive force in the often murky world of cryptocurrency, a sentiment that remains alive today through the Dogecoin Manifesto.
As the original memecoin, Dogecoin established a unique niche that countless imitators have tried to replicate. Yet even now, Markus is astonished by how his creation has grown into the phenomenon it is today.
Markus Blown Away By Dogecoin’s Success
In a recent post, Markus expressed astonishment at Dogecoin’s evolution from a joke into a multibillion-dollar project, saying, “It’s still wild to me.”
Many people assume that such success stems from careful planning and strategic decision-making. However, Markus revealed that the entire creation process took just two hours, and he “didn’t consider anything” at all.
Memecoins have gained notoriety for their high-risk, high-reward potential, capable of turning everyday investors into overnight millionaires.
Despite Dogecoin’s meteoric rise and its role in spawning countless imitators, Markus hinted that his own financial success falls short of what one might expect for the creator of the world’s leading memecoin.
Missed Opportunity
In a 2021 Reddit post, Markus revealed that he sold his entire crypto portfolio and stepped away from Dogecoin in 2015 after losing his job. He used some of the proceeds to buy a used Honda Civic.
Back then, Dogecoin was rewriting the rules of investing, skyrocketing to an astounding $84.5 billion market cap, equivalent to Sri Lanka’s total economic output at the time, while challenging the valuation of legacy blue chips such as IBM and American Express.
In this post, Markus emphasized that true value lies in joy, kindness, empathy, and fun rather than in the relentless pursuit of wealth, a sentiment that contrasted sharply with the giddiness surrounding the newfound fortunes of early DOGE investors
Fast forward to today, and Markus disclosed that the crypto portfolio he liquidated in 2015 included “50 Bitcoin, 440 Litecoin, and 6 million Dogecoin.”
At current prices, that portfolio would now be valued at approximately $4.1 million, adding a bittersweet twist to his story.
On the Flipside
- Dogecoin’s mascot, Kabosu, passed away aged 18 in May.
- DOGE needs to close above the $0.13 resistance level for the next leg up.
- An SNL skit in 2021, in which Elon Musk called Dogecoin a hustle, triggered a sell-off.
Why This Matters
While Markus may regret his early exit, he can take comfort in Dogecoin’s legacy as a playful experiment that challenged norms and spawned a whole new genre of cryptocurrency.
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