April 18, 2024
  • DOGE founder Billy Markus trusts the canine-themed token might never hit its ATH levels again.
  • Meanwhile, Elon Musk still confirms his Dogecoin support.
  • Dogecoin price struggles amid downturn market-wide sentiment.

Dogecoin (DOGE) founder Billy Markus trust the original meme coin might never explore its ATH again. He sees 2021 as a weird year for the marketplace. Meanwhile, Dogecoin holders remain bullish due to Musk’s backing and trust the alternative token could continue upside.

Dogecoin Founder Bearish on DOGE

The community knows Billy Markus for throwing weight behind DOGE and condemning comments addressing his project as a Ponzi scheme. Also, he often claimed that investors remained attracted to DOGE during higher prices only, and that isn’t a lucrative approach. Surprisingly, the creator revealed a bearish outlook on the meme token in his latest tweet.

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A pseudonymous crypto trader and analyst @cocochaneladair tweeted a DOGE price action chart showing the $0.74 ATH, stating he can’t wait to witness such prices again. Markus replied that DOGE might never explore ($0.74) again, adding that last year was weird for the market, sweeping DOGE into the dystopia.

Dogecoin’s founder remains pessimistic as far as DOGE is concerned. The negative stance comes as the meme token dropped more than 91% since its ATH. DOGE community stays bullish on the asset regardless of Markus’ remarks and the following support from Elon Musk, the self-proclaimed Dogecoin Father.

Elon Musk Supports Dogecoin Despite $258B Lawsuit

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New York Post revealed a federal lawsuit against the Tesla billionaire in Lower Manhattan. Keith Johnson, the plaintiff, named Elon Musk, SpaceX, and Tesla and wanted $86 billion in compensation. He asked for another $172B in losses accumulated in DOGE investment since 2019.

Johnson claims Musk and his company promoted the meme coin as a legit investment, while Dogecoin boasts nothing of value. Nevertheless, Musk continued to support the meme coin regardless of the suit.

DOGE Price Action

Dogecoin attempted an uptrend but succumbed to an overnight market slump. While writing this blog, DOGE traded at $0.06213 after losing 0.90% over the past day. The meme coin resumed downside following the latest drop that dragged BTC to the $20K vicinity. Bitcoin traded at $20,292 at this publication, dropping 4.92% within the previous 24 hours.

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