On Monday, the value of Dogecoin (DOGE) dropped after billionaire Elon Musk requested his Twitter customers if he ought to step down as the pinnacle of the favored social media platform.
The cryptocurrency is down 2.2% over the previous 24 hours. For comparability, the value of Bitcoin has slipped by a mere 0.6% over the identical time period.
The meme coin stays extremely delicate to Musk’s tweets and feedback and so it is no shock that DOGE took successful when the controversial billionaire despatched out the tweet.
Musk has repeatedly tweeted in regards to the meme cryptocurrency whereas additionally voicing his enthusiasm for Dogecoin’s potential in varied interviews. The Tesla CEO additionally personally holds the meme cryptocurrency.
After underperforming all through nearly all of 2022, Dogecoin ultimately skilled a wild rally due to Musk’s acquisition of Twitter. Nonetheless, the meme coin took successful after the social media platform reportedly scrapped its plan to combine cryptocurrency wallets.
It seems that Musk’s time atop Twitter could also be coming to a detailed after a string of controversies. At press time, nearly all of folks responding to his most up-to-date ballot need him to go, and Musk has stated he’ll step down in the event that they do. Over 58% of respondents voted “Sure,” displaying that they’re unhappy together with his efficiency since late October when he assumed management of the corporate.
It stays to be seen whether or not Musk does ultimately abide by the needs of his customers and depart from Twitter.