Dogecoin Co-Founder Calls for Calm Amid Price Drop
Billy Markus asked supporters to stay cool
The recent market volatility has left lot’s of doge holders worried. Dogecoin has been dropping under the recent market volatility last year
Billy Markus, Dogecoin co-founder, has asked crypto enthusiasts to remain cool in the face of the cryptocurrency failing to move in an upward trajectory in the new year. He asked holders to stop any crazy narratives, and toxic behaviors, citing that those traits could devalue the brand.
He mentioned that should the negative traits continue, companies will stop using dogecoin. He also added that Dogecoin investors will leave the toxic environment.
“It’s important to match your output with our goals,” he said. “Keep trying to be positive, kind, and fun, despite everything there is out there.”
Dogecoin has dropped since the start of the year. According to CoinMarket, Dogecoin was trading at a sizable loss from its ATH. For those who do not know, the Dogecoin was birthed in 2013 by Billy Markus and Jackson Palmer as a better and fun alternative to Bitcoin.
It started like a joke on the numerous fraud coins that came up at that time, and it takes lots of inspiration from the Shiba Inu meme that went viral a few years back.
Elon Musk has been a fan and supporter of Dogecoin. He has used his Twitter feed to show support for Dogecoin on numerous occasions.
Earlier this week, Musk tweeted that he will eat a McDonald’s Happy Meal if McDonald starts accepting Dogecoin as a form of payment. In addition, Musk announced that Tesla will accept Dogecoin for merchandise on a test basis.
“Tesla will make some merch buyable with Doge and see how it goes,” he said. Currently, Tesla sells merchandise like mini models of vehicles, belt buckles, Cyberquad (a quad bike for kids), and so on.
“The transaction value of Bitcoin is low and the cost per transaction is high. At least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency,” he had said in a recent interview. He added that even though Dogecoin was created as a meme, it is better suited for transactions. He has mentioned that when it comes to transactions per day Dogecoin was better “The total transaction flow that you do with Dogecoin is transactions per day has much higher potential than Bitcoin,” he was quoted as saying.