Who Is Shibetoshi Nakamoto?

What many people don‘t know is that Dogecoin, the world’s largest memecoin is actually a fork of another serious altcoin, Litecoin. This enabled the Dogecoin network to provide faster and more affordable payments than Bitcoin, contributing to its rising popularity. According to the founders, Dogecoin was intended to make crypto less intimidating, since cryptocurrencies at the time experienced high volatility.

Leaving Dogecoin

Billy Markus decided to leave the Dogecoin project in 2014, due to receiving numerous death threats and online harassment from Dogecoin investors. Along with Palmer, Markus handed off Dogecoin to a team of new developers who continue to improve and innovate the Dogecoin ecosystem to this day. Markus also lost his job around that time, and he sold most of his cryptocurrency to buy a Honda Civic.

Where is Shibetoshi Nakamoto now？

The creator of Dogecoin remains a central figure in Dogecoins narrative, despite stepping away from the project. His approach to the creation and management of Dogecoin has influenced the value of transparency, humor, and simplicity in the crypto world.

In addition to being the driving force behind memecoins in spirit, Markus has released several NFT collections on the Ethereum blockchain, showing that he isnt ready to abandon the world of Web 3 just yet.

Currently, Markus works as a full-time software engineer, stating that he doesnt have the means to retire.

Dogecoin and Elon Musk

While Dogecoin gained significant traction on its own, there is no denying that Elon Musk was the one who skyrocketed the coins visibility, with frequent tweets about Dogecoin often leading to price spikes. Musk has even committed to incorporating Dogecoin into his companies, which further solidified its status. For example, Tesla started accepting Dogecoin as a payment option for their merchandise, which led to a spike in the price of Dogecoin.

As for Elon Musks net worth, it has dropped significantly, following his takeover of X (formerly known as Twitter).

The bottom line

Shibetoshi Nakamoto, the playful pseudonym of Billy Markus, is not nearly as mysterious as the Bitcoin founder, but his impact on the crypto world is undeniable. Markus created Dogecoin as a fun, lighthearted alternative to other cryptocurrencies, and despite his departure from the project in 2014, Dogecoin continues to thrive. His creation paved the way for the entire memecoin phenomenon, leaving a lasting mark on both the internet and the crypto space.