Key Takeaways
- Dogecoin co-creaor Billy Markus holds just 220,00 DOGE tokens, which is less than $40K in current prices
- Markus and the other Co-creator Jackson Palmer have since left the project and the cryptocurrency industry
- Dogecoin currently trades over 75% bellow its all-time high in May.
YEREVAN (CoinChapter.com) – Billy Markus, co-creator of Dogecoin (DOGE), holds far fewer tokens of the original meme-token than you’d think. For a person involved in the development of DOGE, one would expect his coffers to be full of them. However, that seems not to be the case.
Markus, who tweets as Shibetoshi Nakamoto, took to Twitter to reveal his Dogecoin holdings. According to him, he holds about 220,000 DOGE. That makes roughly $39,851 while writing.
“I am not on the project. I hold about 220k doge,”
Markus claimed.
The DOGE co-creator also reminded his followers that he is not involved in the project anymore and does not speak on behalf of Dogecoin. “Yet another reminder: I don’t speak for dogecoin,”
he stated in the tweet.
However, while he does not enjoy working in the cryptocurrency space anymore, he vows to defend those working to make the space better.
When a follower hinted at the possibility of him returning to Dogecoin (DOGE), Billy made it clear he had no intention of doing so. According to him, entitlement destroys communities, and the cryptocurrency space is full of entitled people.
“i never will. working on a crypto project is terrible as i have actually found the more you do for people, the more entitled they get and worse they treat you. i respect the developers a lot for volunteering to do so for all these years,”
he said.
Recommended: Elon Musk reaffirms his support for Dogecoin, says it's better than Bitcoin.
Dogecoin creators shun crypto space
Billy Markus is not the only one from the Dogecoin team who is disappointed in the industry. Jack Palmer, the other co-creator, is disgusted with Dogecoin and the large cryptocurrency space.
While Markus is still open to supporting the community, Palmer has made it clear he does not want anything to do with it. The cryptocurrency industry leverages a network of shady business connections to extract new money from the financially desperate and naive.
“After years of studying it, I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight, and artificially enforced scarcity,”
he tweeted in July.
Dogecoin came into existence as a meme token. However, over time, it attracted the attention of investors, including Elon Musk and Mark Cuban, causing DOGE to skyrocket. As a result, it has constantly been on the list of top cryptocurrencies. DOGE currently ranks 12 by market cap, according to CoinMarketCap.
Doge currently trades for $0.18, according to cryptocurrency tracking and portfolio management platform CoinStats. The original meme token is over 75% below its all-time high of $0.73 on May 8. However, DOGE has been up 6% since the past week.
And in case you are wondering why the co-creator of Dogecoin has SHIB in his Twitter name, don’t worry. He hasn’t joined the project. He had that name long before SHIB came into existence. After all, Dogecoin is a Shiba Inu.
