💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Dogecoin (DOGE) Plunges 20% As Elon Musk Contemplates Twitter Resignation

Published 12/21/2022, 01:20 PM
Updated 12/21/2022, 02:30 PM
© Reuters.  Dogecoin (DOGE) Plunges 20% As Elon Musk Contemplates Twitter Resignation
TSLA
-
DOGE/USD
-
COIN
-

The recent poll by Twitter CEO Elon Musk ended up with the majority of voters thinking that Elon ‘The Dogefather’ Musk should step down from his position as Chief Twit. Even though Musk promised that he would abide by the opinion of his audience, one of the world’s richest people also said that he hadn’t found a suitable substitution just yet.

.tweet-container,.twitter-tweet.twitter-tweet-rendered,blockquote.twitter-tweet{min-height:261px}.tweet-container{position:relative}blockquote.twitter-tweet{display:flex;max-width:550px;margin-top:10px;margin-bottom:10px}blockquote.twitter-tweet p{font:20px -apple-system,BlinkMacSystemFont,"Segoe UI",Roboto,Helvetica,Arial,sans-serif}.tweet-container div:first-child{ position:absolute!Important }.tweet-container div:last-child{ position:relative!Important }

A Week Of Intense Crypto Winter For DOGE

The top dog memecurrency Dogecoin (DOGE) was at the center of attention for the bigger part of the week on Crypto Twitter. As Tesla (NASDAQ:TSLA) Phone talks once again sparked a mini bull for the canine coin, there’s also a lot of speculation going on around Dogecoin’s (DOGE) role in Twitter 2.0.

Earlier, when Elon Musk acquired Twitter at the end of October, ‘The Dogefather’ announced plans to integrate a crypto wallet into the micro-blogging platform. By this scenario, Dogecoin (DOGE) could be the financial centerpiece in Twitter 2.0, also serving as the default payment method for SuperFollows, Tips & Subscriptions.

Meanwhile, most of the altcoins took a big hit in the last 7 days, as the crypto markets are still bleeding from the wounds left by the disgraced Sam Bankman-Fried and his utterly corrupt FTX exchange.

DOGE Slips 20%, Community Remains Optimistic

At press time, the 8th ranked leader of the memecoins Dogecoin (DOGE) is priced at $0.073420, according to CoinGecko. The popularity of the canine cryptocurrency wasn’t enough to retrieve its crucial resistance level of $0.09, which DOGE managed to keep for the bigger part of post-Musk Twitter.

Be that as it may, the DOGE Army is amongst the widest and most active communities in the crypto space. As the world is in preparation for the uplifting and spiritual joy of Christmas, the DOGE Army remembers their slogan “Do Only Good Everyday” and keeps Crypto Twitter’s chins up with festive memes during this windy and frosty crypto winter.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.