Dalglish paid the price for a miserable Premier League season in which the Reds finished a disappointing eighth when he was sacked on Wednesday (Incidentally, we called for the Scot's head to roll in March).
It was their worst finish since they were promoted to the top flight of English football in 1962.
The Scot's only achievement remains the Carling Cup triumph, although one wonders if he would have kept his job if the Reds had beaten Chelsea in the FA Cup final earlier this month.
While the fans' respect for the club legend remains in tact, most agreed that finishing below Merseyside rivals Everton in eighth place cost him his job.
Chris Proctor, Liverpool fan for 25 years, told Yahoo! Singapore, "It's a logical decision. But I do feel for Dalglish. The owners need to see results or potential and neither were there."
Marketing executive Clement Chen agreed.
"As a Liverpool fan, I do feel a little sad and sorry for Dalglish over his sacking. He was a legend, and had no need to put that status in jeopardy by coming back.
"It didn't turn out well, but at least he left in a dignified manner, and brought home a cup in the process."
However, fans like Julian Tan are in no mood for sympathy.
The Reds fan and National University of Singapore student said, "Do you really expect to keep your job after leading Liverpool to an eighth place finish in the EPL?
"To me Dalglish did a worse job than Roy Hodgson. He was given all the money he needed but ended up signing flops like Jordan Henderson, Andy Carroll and Stewart Downing. So he deserves the sacking."
Sales executive Jimmy Wee questioned Dalglish's decision making.
"Some of the decisions he made during the season were shocking," he said.
"There is no better example than the Luis Suarez racism saga, where he made the squad wear Suarez T-shirts during a pre-game warm-up. His senseless backing of the striker led to unnecessary pressure on the squad," he added.
Who should take over?
The likes of Pep Guardiola, Jose Mourinho, Andre Villas-Boas, Martin O'Neill and even Roberto Martinez have been linked with the job at Anfield.
But many Liverpool fans already have a familiar name in mind.
Reds fan Valerie Chan said, "I know managers don't usually return to their former clubs, but I do hope Rafael Benitez comes back to Anfield. I believe he is still the man to lead Liverpool back to the glory days."
Other felt Benitez has unfinished work at the club when he left in 2010.
Chen added, "I would love for Benitez to take over. He knows the squad and English football, and is still considered one of the best tacticians around. He would settle down into the job quickly.
"Considering the nature of his sacking the last time round, I think he has some unfinished business, plus with owners' backing, I think he can help bring Liverpool forward."
So who do you think should be Liverpool's new manager?