Dogecoin Co-Founder In Disbelief by Project’s Success

Billy Markus reflects on how Dogecoin sparked an unexpected crypto revolution, evolving beyond his wildest dreams.

Dogecoin dog falling from the sky but sems to be happy about it.
Created by Gabor Kovacs from DailyCoin
  • Billy Markus is still floored by Dogecoin‘s wild ride.
  • Dogecoin has taken on a life of its own.
  • Markus hints at investment regrets.

Billy Markus and Jackson Palmer launched Dogecoin in 2013 as a lighthearted jab at the seriousness of the crypto industry. Over the years, Dogecoin has built a reputation as a positive force in the often murky world of cryptocurrency, a sentiment that remains alive today through the Dogecoin Manifesto.

Sponsored

As the original memecoin, Dogecoin established a unique niche that countless imitators have tried to replicate. Yet even now, Markus is astonished by how his creation has grown into the phenomenon it is today.

Markus Blown Away By Dogecoinโ€™s Success

In a recent post, Markus expressed astonishment at Dogecoin’s evolution from a joke into a multibillion-dollar project, saying, โ€œItโ€™s still wild to me.โ€ย 

Many people assume that such success stems from careful planning and strategic decision-making. However, Markus revealed that the entire creation process took just two hours, and he โ€œdidnโ€™t consider anythingโ€ at all.

Memecoins have gained notoriety for their high-risk, high-reward potential, capable of turning everyday investors into overnight millionaires.

Despite Dogecoin’s meteoric rise and its role in spawning countless imitators, Markus hinted that his own financial success falls short of what one might expect for the creator of the world’s leading memecoin.

Missed Opportunity

In a 2021 Reddit post, Markus revealed that he sold his entire crypto portfolio and stepped away from Dogecoin in 2015 after losing his job. He used some of the proceeds to buy a used Honda Civic.

Back then, Dogecoin was rewriting the rules of investing, skyrocketing to an astounding $84.5 billion market cap, equivalent to Sri Lanka’s total economic output at the time, while challenging the valuation of legacy blue chips such as IBM and American Express.

In this post, Markus emphasized that true value lies in joy, kindness, empathy, and fun rather than in the relentless pursuit of wealth, a sentiment that contrasted sharply with the giddiness surrounding the newfound fortunes of early DOGE investors

Fast forward to today, and Markus disclosed that the crypto portfolio he liquidated in 2015 included โ€œ50 Bitcoin, 440 Litecoin, and 6 million Dogecoin.โ€ 

At current prices, that portfolio would now be valued at approximately $4.1 million, adding a bittersweet twist to his story.

On the Flipside

  • Dogecoinโ€™s mascot, Kabosu, passed away aged 18 in May.
  • DOGE needs to close above the $0.13 resistance level for the next leg up.
  • An SNL skit in 2021, in which Elon Musk called Dogecoin a hustle, triggered a sell-off.

Why This Matters

While Markus may regret his early exit, he can take comfort in Dogecoin’s legacy as a playful experiment that challenged norms and spawned a whole new genre of cryptocurrency.

Teslaโ€™s Robotaxi event triggers rumors of a Dogecoin tie-in.
Dogecoin Skyrockets 20% Post-Tesla Robotaxi Spectacle

An a16z report noted a jump in crypto usage in 2024.
Crypto Users Triple in 2024: Which Chain Leads the Pack?

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Samuel Wan

Samuel Wan is a reporter at DailyCoin covering market affairs. Samuel's has holdings in Bitcoin and Cardano, with other minor holdings across the market.

Read more