Dogecoin Co-Founder Mocks Crypto Selloff as Gold and Silver Surge

Billy Markus, the Dogecoin co-founder known online as Shibetoshi Nakamoto, responded to the latest cryptocurrency market drawdown with characteristic sarcasm.

As Bitcoin and major altcoins slid sharply, Markus posted a meme on Xshowing a trader proclaiming, “just sold my crypto yesterday to buy gold and silver,” a pointed jab at the timing instincts of short-term market participants.

The post landed amid a turbulent final week of January 2026, when cross-asset moves underscored how sharply investor sentiment has shifted across global markets.

Crypto selloff collides with metals breakout

The meme reflected a clear divergence. Bitcoin fell roughly 8% over the course of a week, sliding from above $93,000 into the $87,000–$88,000 range. The pullback coincided with a broader macro shock tied to renewed U.S. tariff escalations and rising geopolitical tensions in Europe, which pushed investors toward defensive positioning.

At the same time, precious metals surged. Gold opened above $5,000 per ounce on January 26, 2026, setting a new all-time high, while silver spiked to a record $117.69 before retreating amid heightened volatility. The contrast reinforced a familiar pattern: during periods of acute macro stress, capital often rotates toward traditional safe-haven assets rather than risk-sensitive markets like crypto.

Markus pushes back on familiar narratives

Markus used the moment to criticize what he sees as reflexive thinking among retail traders. He mocked claims of constant “whale manipulation,” quipping that, in popular discourse, “all dumps are manipulation, and all pumps are super organic.” The comment highlighted a double standard in how market participants interpret price action depending on direction.

Despite co-creating one of the most recognizable cryptocurrencies, Markus has long maintained a skeptical stance toward active trading. He has repeatedly described crypto trading as closer to gambling than investing and has stated that his personal holdings are minimal, amounting to less than one bitcoin.

He also pointed to a broader correlation reality. When global markets shift decisively into a risk-off mode, cryptocurrencies tend to behave as high-beta macro assets rather than as independent hedges. In those environments, digital assets often move in line with broader risk sentiment instead of offering protection against it.

Taken together, Markus’s response served less as market commentary and more as a reminder: during macro-driven shocks, crypto price action frequently reflects global risk dynamics, not isolated on-chain narratives.

The post Dogecoin Co-Founder Mocks Crypto Selloff as Gold and Silver Surge appeared first on ETHNews.