Dogecoin co-founder Billy Markus, known on X as Shibetoshi Nakamoto, reacted as DOGE climbed 10% toward $0.078 during a broad cryptocurrency rebound on August 19. The meme coin recovered from a low near $0.069 and briefly touched $0.078 before sellers emerged around the intraday high.
Markus shared a screenshot showing Bitcoin, Ethereum, Solana, and Dogecoin trading higher alongside a modest 0.21% gain for the S&P 500. In a post, he asked: “is crypto back!?!?!?!?! is the 2026 nightmare over?!?!!?”
The rebound followed months of selling pressure that began after last October’s major market crash, which generated approximately $19 billion in liquidations. Bitcoin, Dogecoin, and several major altcoins have struggled since then as weaker sentiment reduced demand across the market.
Investors also assessed minutes from the Federal Open Market Committee’s July meeting released Wednesday. Most Federal Reserve officials supported leaving interest rates unchanged, but several favored higher rates, highlighting ongoing disagreement over monetary policy. Despite that uncertainty, cryptocurrency gains exceeded the modest movement recorded across the S&P 500.
Dogecoin’s rally was part of a wider crypto advance rather than an isolated DOGE move. Bitcoin’s stronger performance was particularly important because its movements often influence liquidity and investor sentiment throughout the cryptocurrency market. Sustained market strength would provide clearer evidence that crypto’s difficult 2026 conditions are easing.
