Dogecoin Founder Shibetoshi Nakamoto Reacts to DOGE's Bullish Momentum Over the Weekend

Dogecoin regained bullish momentum over the weekend, sparking reactions from founder Shibetoshi Nakamoto and other notable enthusiasts.

Billy Markus, the co-founder of Dogecoin, celebrated the coin's price upsurge with a characteristic tweet on Friday.

Known by his pseudonym Shibetoshi Nakamoto on X (formerly Twitter), Markus shared a simple yet effective response to Dogecoin's impressive price appreciation. “Yaaasss queen,” the software engineer tweeted on Friday, along with a GIF of a Shiba Inu donning a crown.

yaaasss queeen pic.twitter.com/kRI7gZgN7K

— Shibetoshi Nakamoto (@BillyM2k) January 3, 2025

The post sparked reactions from the Dogecoin community, with many users expressing their enthusiasm and appreciation for Markus' involvement in the project.

As a point of reference, Dogecoin closed the day with a substantial 12.30% appreciation, marking its highest daily gain since a 27% price upswing on November 11.

Moreover, the doggy-themed meme coin concluded the week with an impressive 21.5% northward push, closing at $0.3825.

Shibetoshi Discusses Dogecoin Tipping on X

In another development, Shibetoshi Nakamoto addressed the use of Dogecoin as a tipping currency on platforms like X.

Markus highlighted that he didn't create the meme coin for this purpose, but “it is cool” to use it in this manner.

To provide context, tipping is a peer-to-peer method that allows users to share small amounts of value. This macro payment system can operate from the community to creators or among themselves, with the primary purpose of rewarding positive contributions.

Markus' response came in response to a community member's query on whether Dogecoin's intended use during its creation was as a tipping currency on platforms like X.

Markus Calls for 500% Upsurge for Dogecoin

In a separate tweet, Markus expressed his hopes for further price increases for Dogecoin, stating that he could buy a house if the coin surged another 500%.

The founder's statement sparked reactions from the Dogecoin community, with many users expressing their support for the coin's continued rise.

Notably, a 500% upswing from the current market price would place Dogecoin at around $2.3000. This price increase would propel its market capitalization to over $340 billion, roughly $100 billion below Ethereum's current valuation.

Meanwhile, technical analysis supports the potential for this ambitious price target. According to Javon Marks, Dogecoin could reach the $2.2800 mark if it advances to its 1.618 Fibonacci level, as it did in 2021.

At the time of writing, the leading meme coin is trading at $0.3848, up barely 1% in the past 24 hours.