Dogecoin is one of the worst performers in the past 24 hours after confirming that Elon Musk is stepping down as Twitter CEO.
DOGE hit a high of $0.11172 on December 5th, but then increased selling pressure led to a 37% loss before bottoming out at $0.07003 on December 19th.
At the end of the move, Elon Musk took to Twitter to ask if he should step down as CEO of the company. The poll ended with him receiving over 17.5 million votes, with 57.5% wanting him to resign.
Keeping his word and following the results of the polls, on December 21, Musk He confirmed that he would step down if he found a replacement who was “ridiculous enough.” He said he would continue to oversee software and server operations after his resignation.
“I will step down as CEO as soon as I find someone stupid enough to take it! After that, I will run the software and servers team.“
dogecoin and musk
Dogecoin price action is highly correlated with Musk’s activity both on and off social media.
DOGE posted a week-long gain, surging from $0.05911 to $0.15952, a 170% gain, as news of Musk’s acquisition of Twitter for $44 billion made its way.
Musk’s favorite cryptocurrency, Dogecoin, sparked a buying frenzy after rumors that it would benefit from its integration with Twitter.
It’s been about seven weeks since Musk took office, and no DOGE integration has been confirmed. Moreover, it is unclear whether Musk’s resignation will help or hinder such a proposal.
Who is stupid enough to be Twitter’s CEO?
Multiple candidates have stepped forward to serve as Twitter CEO, including NSA whistleblower Edward Snowden, podcaster Rex Friedman and Snoop Dogg.
Since the story exploded, many others have also thrown their hats in the ring. Founder of defunct social media platform MySpace, Tom Andersonregistered your interest by posting a profile picture.
Similarly, @TheDaoMaker Proposed Longtime Dogecoin Supporters Greg assume the role.
Before, Greg He showed his interest by reaching out to the mask in his trademark tweet style.
“Dear Elon
It’s me, Greg. If you have any questions about future policies, or need help hiring a CEO for Twitter (or want me to be your CEO), feel free to reach out to me.
love, greg
