Billy Markus, one of the co-creators of the crypto currency Dogecoin (DOGE), inspired by a meme, shared his great regret on social media. Earlier this year, the price of Dogecoin had skyrocketed. But the DOGE founder disposed of all the DOGEs he had in the early days of the cryptocurrency. For this reason, Markus indirectly announced that he regretted it.
Dogecoin founder reveals his regret
In a recent tweet, Markus explained that the price of DOGE in 2014 was only $0.0026 per token, while one Bitcoin was around $624. Ethereum, currently the second largest cryptocurrency by market cap, was not even created yet.
According to Markus, the $100 invested in DOGE at that time would now be worth about $90,000. But instead of investing his money in cryptocurrency, he deposited his savings into a savings account that yielded a return of 0.75%. Markus sold all of his Dogecoin holdings in 2015 to buy a second-hand Honda Civic. Speaking to Bloomberg, Markus said he sold his DOGEs because he was laid off.
Markus invested in crypto for the first time in eight years
There was no way Markus could predict that the price of Dogecoin would rise from $0.0026 per coin to an all-time high of $0.74 earlier this year. After reaching its highest level, DOGE fell by one measure and dropped to $0.21 levels. Earlier last month, Markus made his first cryptocurrency investment in eight years with DOGE. However, he did not disclose how much he invested.
Looking at the price chart, an anonymous crypto analyst and Bitcoin bull Tyler Durden predicted that the price of Dogecoin was “programmed” to drop to $0.05 and that even Tesla CEO Elon Musk would not be able to save it. His assumption is based on a head and shoulders chart model. on the other hand Cryptocoin. com, legendary financial advisor Ric Edelman announced that he believes the meme-coin is “a scam that will end badly.”