The crypto market suddenly sprang back to life, sending Bitcoin and the majority of crypto assets, including Dogecoin, higher.
At the time of writing, Dogecoin was trading up 10% at $0.0771, extending yesterday’s surge from a low of $0.069. The dog-themed coin briefly touched an intraday high of $0.078 early Thursday before retreating slightly.
In his characteristic manner, Dogecoin cofounder Billy Markus, who goes by Shibetoshi Nakamoto on X, commented on the crypto market surge in a social media post.
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Markus shared a screenshot that showed the surge, with most assets in the green, and asked two questions that had several question marks interspersed with exclamation marks: “is crypto back? is the 2026 nightmare over?” The question “is the 2026 nightmare over?” highlights the uncertainty in the crypto market following a difficult period in 2026.
Cryptocurrencies had seen months of selling since last October when a major flash crash liquidated a record $19 billion in the market.
Is crypto back?
Markus’s screenshot showed the rise of various assets including BTC, S&P 500, Ethereum, Solana, and Dogecoin. Notably, the mentioned crypto assets outperformed the S&P 500, which was only up 0.21% in the timeframe according to the screenshot.
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In the financial markets, traders are digesting the latest Federal Open Market Committee minutes from July, released Wednesday, which seemed to offer less help to the bulls. Most officials backed keeping rates unchanged at the Fed’s July meeting, but several favored a hike.
This might have somewhat contributed to the minor gains in the S&P 500, with cryptocurrencies outperforming. This background might have prompted the Dogecoin cofounder to ask whether crypto was back.
The two questions from Dogecoin’s cofounder: “is crypto back? is the 2026 nightmare over?”cannot be fully answered unless a sustained rally is confirmed in the crypto market in the coming weeks and months.
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