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Dogecoin co-founder Billy Markus, who goes by the name Shibetoshi Nakamoto on X, recently reacted to a take on Ethereum price.
As one of the most prominent figures in the meme coin space, Markus often engages with the broader crypto community, offering his witty takes on general issues as well as market trends. His latest tweet taps into the ongoing debate over whether Ethereum can sustain its upward momentum or if the current rally will lose steam. A screenshot shared by Markus asked the question of when Ethereum will hit an all-time high.
The Dogecoin co-founder acknowledged Ethereum being up 8% in September, a month considered bearish for cryptocurrencies in general.
ethereum is up 8% this month… y’all think it’ll moon before the end of the year?
— Shibetoshi Nakamoto (@BillyM2k) September 27, 2024
most people think no apparently 🤣 pic.twitter.com/cXl3BSWGNX
"Y’all think it’ll moon before the end of the year?" the Dogecoin founder asked his followers regarding the ETH price, to which answered, "Most people think no apparently," suggesting skepticism in the crypto community on whether Ethereum (ETH) might experience a major rally, or "moon" before the end of the year.
As usual, the Dogecoin founder is known for his non-serious takes on the crypto market, the Dogecoin cryptocurrency itself was initially created as a joke. The Dogecoin founder's comment might be that of humor given the laughter emoji at the end of his tweet, yet nobody knows.
Ethereum up 8% in September
Ethereum's 8% rise this month is part of a broader trend of recovery in the cryptocurrency market.
Bitcoin, the first and largest cryptocurrency by market cap, is on track for one of its best September increases as a global wave of interest-rate cuts, led by the U.S. Federal Reserve, aids the largest digital asset in overcoming a seasonal jinx.
In September, the Federal Reserve, the European Central Bank and the People's Bank of China all slashed borrowing costs to stimulate economic development. Investors reacted to more relaxed monetary circumstances by bidding up everything from stocks and gold to cryptocurrencies while anticipating more stimulus.
At the time of writing, ETH was up 0.97% in the last 24 hours to $2,674 and up 5% on the week.