Billy Markus, co-creator of the meme-inspired crypto, Dogecoin, said he’s recently beginning to appreciate cryptocurrency so much more. He believes there’s some good that can come out of the underlying principles of crypto.
Markus, who uses the pseudonym Shibetoshi Nakamoto on social media as a playful nod to Bitcoin creator Satoshi Nakamoto, said his reignited interest in crypto is not solely due to the recent price surges.
Replying to a commentator on his recent post, Markus said crypto’s infrastructure has fueled his growing trust in the incorruptibility of code over people.
“Humans are so much more easily corruptible than code,” he remarked.
The discussion sparked commentary from followers, with one highlighting how crypto can counter excessive bank fees. Markus responded with a sharp critique of banking practices, stating, “The more you learn about how banks operate, the more it deserves to be disrupted.”
Dogecoin celebrates 11th anniversary
The Dogecoin (DOGE) community is in a celebratory mood as the cryptocurrency marks its 11th anniversary since its launch on December 6, 2013. In a post on X, Markus reflected on DOGE’s journey and expressed disbelief at its enduring success.
“I didn’t expect some silly thing I made in a few hours to have such a tremendous impact on the world,” he wrote.
He called the anniversary celebrations a “nice reminder” of the potential for even small actions to create significant ripple effects.
Dogecoin’s market cap now exceeds $65 billion, making it the seventh-largest crypto by market capitalization. Over the past week, DOGE surged nearly 20%, reaching a local high of $0.46 before settling at the $0.427 level.
At the time of writing, the coin is changing hands at $0.44, reflecting a 4.4% uptick in 24 hours but maintaining a 5.3% weekly increase, per data from Coingecko.
Analysts hopeful of a bullish market trend
Market analysts are optimistic about Dogecoin’s trajectory. They point to a 25-day consolidation phase that followed a November price surge. Historical patterns suggest that such consolidation periods often precede significant rallies.
Crypto analyst Master Kenobi predicts that the coin could hit $1 during its next upward movement. Similarly, Kevin Capital envisions the potential for DOGE to climb even higher, estimating a price range of $3 to $4 if market momentum remains strong.
Notably, analysts are maintaining a bullish outlook on DOGE in the long term. Following a substantial surge between October and early November, the coin entered a consolidation phase, but traders are optimistic that its upward momentum will remain intact.
In a recent post on X, analyst KrissPax noted that Dogecoin is exhibiting a classic ascending triangle pattern on its two-hour chart. This pattern, characterized by higher lows and a flat-top resistance line, is often associated with bullish price movements.
KrissPax pointed to a recent leverage flush as part of the consolidation process, further strengthening the case for a potential breakout.
Rekt Capital also echoed the ascending triangle pattern, suggesting that a breakout could propel Dogecoin to $0.56. This technical setup, combined with Dogecoin’s historical market behavior, has fueled optimism among crypto enthusiasts that the coin could reach new highs soon.
Moreover, Elon Musk’s association with Dogecoin continues to be a significant influence on its market performance. The billionaire has been a vocal supporter of the meme coin, often driving investor interest with his public endorsements.
His close relationship with President-elect Donald Trump led to the creation of a US financial monitoring department named the Department of Government Efficiency, which has a similar acronym to the crypto DOGE.
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