Dogecoin Price Prediction as Elon Musk Says He Will Resign as CEO When This One Thing Happens – Is DOGE Doomed?
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Dogecoin’s price experienced another sell-off this week after Elon Musk announced that he would resign as the CEO of Twitter as soon as he finds an appropriate replacement.
Musk has been leading the social media company since October and at the time of his announcement, Dogecoin’s price rallied by over 178% and reached a high of $0.1596. DOGE is now trading at around $0.074 and here’s where it’s heading next.
Elon Musk to Leave Twitter as CEO, Is Dogecoin Price Doomed?
In recent years, Dogecoin’s price has become more sensitive to Musk’s tweets and comments. After announcing that he would be acquiring Twitter, Musk hinted that DOGE would be integrated into the platform, which was welcomed by the Dogecoin community. However, Twitter later announced that it was delaying the addition of cryptocurrency payments. Despite this, Dogecoin remains closely tied to Musk, who is a fan of the meme-based token.
Since taking over the top job at Twitter, Musk has been accused of neglecting his role at Tesla, the world’s leading electric vehicle (EV) manufacturer, where he is also the CEO. Tesla’s stock has plunged recently, toppling Musk from being the world’s richest man.