December 20, 2022

Dogecoin Falls by Over 10% After Musk’s Twitter Poll

Dogecoin-1

Dogecoin-1

The price of Dogecoin fell by more than 10% as it was trading at $0.07 following a Twitter poll by Elon Musk, who asked if the people wanted him to continue in his role as the head of Twitter or step down.

About 57.5% of voters agreed that Musk should leave Twitter, while 42.5% insisted that he should stay in his position. He claimed that he would abide by the results, according to Decrypt website.

This is not the first time that dogecoin is associated with Musk’s tweets and remarks. On November 1, the value of Dogecoin hiked to unprecedented levels, recording 14 cents following the CEO of SpaceX’s acquisition of Twitter worth $44 billion. Musk’s move made dogecoin the eighth largest cryptocurrency by market capitalization at that time.

Dogecoin has remarkably declined over the past days since hitting the daily high of $0.111 resistance on December 5.

Although Musk loves dogecoin, his company Tesla has not invested in the crypto coin yet, as it is investing in Bitcoin worth $218 million. It is worth mentioning that Tesla merchandise could be bought by Dogecoin starting this year. Also, Dogecoin is accepted as a payment for purchasing Musk’s newly launched perfume brand.

Dogecoin was created on December 6, 2013, based on the popular “Doge” Internet meme and features a Shiba Inu on its logo. It can be bought on centralized exchanges such as Binance, Coinbase, Crypto.com, Bitfinex, and more.

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