Marcus reacted after the token’s value plunged yesterday.
Billy Marcus, the co-founder of Dogecoin (DOGE), expressed shock over the massive plunge in Martin Shkreli Inu tokens yesterday.
The token, launched by the infamous Martin Shkreli alias “Pharma Bro,” saw its value dip over 90% on Friday in what appeared to be an exit scam.
According to the outspoken Dogecoin co-creator, the crash of the Martin Shkreli token is the most shocking thing that has happened since Squid Game (SQUID).
this is the most shocking thing since squid game token
— Shibetoshi Nakamoto (@BillyM2k) August 12, 2022
SQUID was a memecoin launched after the popular Netflix series Squid Game. Many people invested in the project, thinking it was launched by the producers of the series. However, things ended badly for investors as the team behind SQUID pulled the rug on them.
Martin Shkreli Inu’s collapse is different from SQUID’s. The cause of the massive plunge of Martin Shkreli Inu’s value came after an unidentified wallet dumped a massive amount of the tokens in the market.
The wallet is believed to belong to Martin Shkreli. Per blockchain data, a crypto wallet dubbed 0xshkreli.eth moved 160 billion units of the tokens to the unnamed wallet yesterday, and it did not take long before the tokens were dumped in the market.
Commenting on the development, Shkreli noted that he got hacked.
Meanwhile, Shkreli has been notorious in the past. He was once referred to as the “most hated man” in the U.S. after hiking the price of a potentially life-saving drug in the country. Shkreli was arrested for securities fraud but gained his freedom earlier this year.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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