Sad For DogeCoin Founder Selling All The Coins Just Enough To Buy The Old Honda Civic, DogeCoin Now Has Twice As Much Capitalization As Honda.

A few days ago, the co-founder of the Ethereum project just became one of the newest billionaires in the world when the value of the ETH coins he has held since his foundation soared to a new record high. But the recent strong gains of ETH or Bitcoin cannot be compared to another exotic cryptocurrency - DogeCoin.

In fact, this cryptocurrency symbolized as the Shiba Inu dog has just had a staggering increase - up to 1400% in the past year - from just $ 0.045 to $ 0.7 per coin. Surely that will make a lot of people rich while holding this coin.

It's understandable to assume that the founders of this project will also turn into billionaires thanks to the coin's incredible rise, but as it turns out, this is not true for one of them - programmer Billy Markus .

Two months ago, in an effort to explain DOGE's "true value" to people, the 38-year-old software engineer posted an open letter on Reddit's r / dogecoin section sharing his vision. I'm about the crazy momentum going on. In this letter, Markus said, he and his co-founder Jackson Palmer created DOGE as a joke in 2013 and it went up unexpectedly.

Even Markus, one of its creators, admitted that he decided to leave the project in 2015 because he could not stand the pressure and growing ridicule from the online community. All DogeCoin held by him was sold out with enough money to buy a used Honda Civic.

Billy Markus, cofounder of DogeCoin.

" I am no longer part of the DogeCoin project. I left in 2015 when the community started to change rapidly from a group of people I was comfortable with ." Markus said in the open letter.

" I don't hold any Dogecoin at the moment except for a few recently donated coins. I gave away or sold all my crypto money since 2015 after I got fired and worried about my savings. exhausted at the time, barely enough to buy a used Honda Civic . "

" I don't really care anymore, but it's strange that something I created in a few hours became a part of internet culture ." Markus said. " It was exciting to see Elon Musk talking about it. It felt silly, but behind it was a huge explosion. "

Currently, Markus works for an educational company in the San Francisco Bay Area. Although Dogecoin was only created as a joke, at present, the total market capitalization of this cryptocurrency has reached 120 billion USD, twice larger than Honda (with a market capitalization of 54 billion USD. ). If Markus had the patience to keep the DogeCoin he had, he would now have more than one used Honda Civic.