Dogecoin Cofounder Comments on September Market Selloff
Dogecoin (DOGE)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that risk assets, including cryptocurrencies, have opened September in the red, prompting a reaction from Dogecoin co-founder Billy Markus. Known on X as Shibetoshi Nakamoto, Markus posted a screenshot showing declines in the S&P 500, Bitcoin, Ethereum, Solana, and Dogecoin, captioning it, “September starting great as always.” This tongue-in-cheek remark highlights the widespread market drop, which has seen $361 million in crypto positions liquidated in the last 24 hours. Historically, September is Bitcoin’s worst-performing month on average since 2013, with a typical loss of around 3%.
The month is also unique for traditional markets, as the S&P 500 has seen a negative average return every September since 1975. At the time of writing, Dogecoin was down 1.41% in 24 hours to $0.081 and 4.90% for the week. This decline pushed DOGE out of the top 10 cryptocurrencies by market cap, dropping it to the 11th position with a market cap of $12.74 billion.
The asset had seen profit-taking after reaching $0.1 on August 22, falling to a low of $0.08. Market selling pressure was influenced by Fed Chair Kevin Warsh’s hawkish Jackson Hole speech, which emphasized elevated inflation. Traders are now pricing in a 66% probability of a 25-basis-point rate hike at the Sept. 16 meeting. Another potential rate hike is expected by the end of the year.
How the market reacted
Whalio's own Binance spot order flow for DOGE, measured when this story was written up on 2 September 2026. Not the outlet's figures.
Whalio’s Binance spot data shows Dogecoin trading at $0.08167 with a 24-hour buy ratio of 47.1%, indicating that selling pressure slightly outweighs buying. The 1-hour buy ratio is 47.3% and the 4-hour ratio is 48.0%, both remaining below the 50% threshold where buyers and sellers are equal. Volume delta is negative across all timeframes, with -$158,334 in the last hour, -$380,094 over four hours, and -$2,569,086 over 24 hours. This negative delta means that market sell volume has exceeded buy volume, confirming the downward price movement. The cumulative volume delta (CVD) for the 24-hour close is -$534,148, further confirming that sellers are in control. Net buying occurred for only 13 of the 24 hours, suggesting that the selling pressure was persistent throughout the day.
The latest daily buy ratio of 37.6% sits at the 0th percentile of the last 322 days, against a median of 48.9% - among the weakest buying days it has had.
Was that an ordinary day?
The same Binance spot measurements for DOGE, averaged over the days leading up to the story.
Comparing the current 24-hour metrics to the preceding week’s average reveals a consistent bearish trend. The 7-day average buy ratio is 49.6%, and the latest day’s ratio of 47.1% is 2.5 percentage points lower, indicating a shift toward selling. Weekly volume is at 0.84x the average, showing reduced participation compared to the norm. Over the past eight days, the price has changed by -4.7%, with a total volume delta of -$5,469,059. This week has seen net buying on only 4 of 7 days, which is less than half the time, highlighting a sustained period of seller dominance.