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Dogecoin creator Billy Markus reveals he’s getting back to crypto after being on the sidelines for nearly a decade.
Markus tells his 425,900 Twitter followers that he bought the same Dogecoin (DOGE) cryptocurrency using the Robinhood investment app.
“I bought Dogecoin after eight years of pledging never to buy crypto again an hour ago. I have checked the price seven times since then. I was up 10%, and now it’s back to 3%. Either way, it looks healthy.
The DOGE co-founder also said he is not looking to sell his new crypto holdings anytime soon.
“In my opinion, you have to let it roll if you really believe in something. HODL.
While the Shiba Inu-inspired crypto asset was created as a joke in 2013, Markus postulates that DOGE has transcended its original purpose as it gains popularity among retail traders.
“I really hesitate to call other projects a scam, and I cringe when I hear people say it. Dogecoin was (and still is) constantly called a scam. Aside from the actual malicious intentions of the developers, the only real difference between a ‘scam’ and a successful coin / token is adoption… It’s all a joke until it’s actually adopted and used and has some utility / value.
Earlier this year, the Dallas Mavericks began accepting DOGE payments for team merchandise and game tickets. Top crypto exchange Coinbase also listed the sixth largest crypto asset amid growing demand.
As for DOGE’s near-term outlook, veteran trader Peter Brandt sees a downtrend forming in his Tether base pair (USDT).
“Doge DOGE / USDT. Maybe baby. “
Source: Peter Brandt / Twitter
According to Brandt’s chart, DOGE creates a head and shoulders formation, a pattern indicating that a trend reversal is on the horizon. Brandt implies that a move below the $ 0.15 support should confirm the trend and initiate the DOGE bear market.
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