Dogecoin Founder Highlights Poor ETH Performance Compared to BTC and DOGE
2024-11-20

Billy Markus, known on the X platform as Shibetoshi Nakamoto, who created Dogecoin together with Jackson Palmer in 2013, has published a post to comment on the slightly negative ETH price performance compared to that of Bitcoin and DOGE.
Shibetoshi Nakamoto shared charts showing Bitcoin and Dogecoin riding a green wave, while Ethereum is sinking into the red zone.
"Ethereum retarded": Dogecoin creator
Since the weekend, the second largest cryptocurrency, Ethereum, has been trading in a range, striving to break above the $3,215 resistance zone and hold there. ETH managed to surpass this strong resistance twice — on Saturday and then again on Monday, when it succeeded in reaching $3,215 and $3,225, respectively. Between Friday and Monday, Ethereum demonstrated a 6.8% surge.
However, since then, ETH has dropped twice to the $3,080 area and is currently changing hands at $3,127 per coin.
is ethereum retarded or something pic.twitter.com/s3RWizZpVL
Unlike Ethereum, the flagship cryptocurrency, Bitcoin, has been showing a clear rising trend over the same recent period. It features highs and lows but overall rose by 7.13% by Tuesday to hit $93,975. By now, the pioneer crypto has rolled back a little and is trading at $93,308.
As for Dogecoin, between Sunday and Tuesday, the iconic meme cryptocurrency showed an increase of nearly 21%, soaring from $0.34 to the $0.42 local high. The pullback printed by DOGE by now constitutes 6.59%, and the meme coin is trading at $0.39243.
Looking at Ethereum’s weaker price performance compared to Bitcoin and Dogecoin, Markus criticized Vitalik Buterin’s brainchild, saying: “Is Ethereum retarded or something?”
Ethereum about to outperform Bitcoin: Analyst
Crypto analyst Ali Martinez has published an X thread suggesting that Ethereum is about to outperform Bitcoin and surge to a minimum of $4,000 and then possibly $6,000. Martinez said that ETH outperforms BTC in every market cycle, but it has not happened in the current one so far.
The analyst pointed out that whales have purchased more than $1.4 billion worth of Ethereum in the past few weeks, preparing for that potential surge.
So, where is #Ethereum going next?
Well, the formation of an ascending parallel channel suggests $ETH will test the middle and upper boundary, sitting at $4,000 and $6,000, respectively.https://t.co/mkpxAeXtXq
Martinez tweeted that Ethereum is currently forming an ascending parallel channel, suggesting that ETH is targeting the middle and then the upper boundary of it, which sit at $4,000 and $6,000.