The Dogecoin (DOGE) price has performed well in recent months despite the difficult market situation. This was partly due to the takeover of the Twitter platform by the well-known US billionaire. But now Musk could resign as CEO of the company after just a few weeks. Will Dogecoin die as a result?
How did Dogecoin Perform in the last few weeks?
The Dogecoin course has seen an increase in the last few weeks, but later also a very changeable course. At the end of October, the Altcoin rally at the time started a massive rise in the DOGE price, with the meme coin more than doubling in value. Large parts of the rise were subsequently lost again with the FTX crash.
At the end of November, the Dogecoin price was also able to rise again. But in the last few weeks, we have seen consolidation again. Overall, the Dogecoin price has risen by a third since the end of October.
Why was Dogecoin able to outperform many of the other coins?
Dogecoin has made a plus in the last 3 months. It is one of the few coins among the top cryptocurrencies. On the one hand, this was due to the fact that the altcoin rally had brought high profits for the DOGE, which were not completely wiped out by the FTX crash.
Furthermore, Dogecoin has probably benefited the most from the takeover of Twitter by Elon Musk. Musk is considered a fan of Dogecoin. In this mixed situation, the Dogecoin price was able to rise slightly overall in the last few weeks despite the bear market and even came in 8th place among the cryptocurrencies by market capitalization.
Will Elon Musk step down as CEO of Twitter?
Elon Musk’s takeover of Twitter has sparked much controversy. But the crypto space is generally positive about the Musk takeover. The owner of Tesla and SpaceX has unbanned many accounts from Twitter and has spoken out against censorship on the platform. Many users report a better user experience on Twitter since Musk acquired the company.
Now, however, Musk has surprisingly started a poll as to whether he should step down as head of Twitter. More than 57% of the participating users voted yes.
A controversy with journalists arose before the poll. They had shared links on Twitter, on whose pages you could theoretically track the location of Elon Musk’s private jet live. Numerous accounts of journalists were therefore blocked.
We must note, however, that Musk may have already made his decision prior to this poll and likely already has a successor in mind. It was clear to him that he wanted to give up the executive position on Twitter quickly.
Will Dogecoin Die after Elon Musk resigns?
The Dogecoin price had risen, among other things, because of the hope of investors that Musk could use Twitter to push the DOGE and the associated, well-known memes more. A resignation as CEO could ensure that the Dogecoin price collapses again in the next few days and weeks.
A complete implosion of Dogecoin seems unlikely. As the full owner of the company, Musk still has tremendous influence over the platform and an account with millions of followers. If Elon wants to push Dogecoin, he can continue to do so very easily.
Is it worth investing in the DOGE now?
The Dogecoin course could collapse again in the short term. But in the long term, we tend to see an upward trend. Should the market become bullish again, we could see the well-known meme coin rallies from the Dogecoin course at any time and more often.
Nevertheless, Dogecoin is of course a very risky asset and you should not be careless with an investment in the DOGE.
Offer form CryptoTicker
Are you looking for a chart analysis tool that doesn’t distract you with community messages and other noise? Check out GoCharting ! This is an easy to use online charting tool that requires no downloads or prior knowledge.
Click here to get a 10% discount on your first payment (monthly or yearly)!
CLICK THIS LINK TO TRADE DOGECOIN AT BITFINEX!
Shiba Inu to Reach 1$ soon? This New Upcoming Development Proves it Right
DOGE Prediction 2023: Will Dogecoin Price Recover?
Dogecoin Price Prediction for the Next Bullrun…DOGE at 1$ in sight?
Big News: Ripple Price is about to TRIPLE? This News Confirms…
Top 3 Reasons why DOGECOIN is a Good Buy before 2023
Can Dogecoin Price reach $1 in 2023? Those Facts DON’T LIE!
Can Shiba Inu Price Reach 10 Cents?
Dogecoin Price Prediction year-end 2022
Dogecoin Price Prediction: Will Elon Musk drive the price of DOGE to $2 by 2023?
Big News: Dogecoin To Hit $3 In February If This Happens!
Conservative Prediction: Can XRP reach $5 in 2023?
Doge Price Big Boost: Is Elon Musk Set to Rocket Dogecoin Price to $5?
Will Dogecoin Payments on Twitter become a Reality? Elon hints…
The Big Ripple Price Prediction for 2023 – How high can the XRP price go in 2023?
Dogecoin Price Prediction: Can DOGE reach 20 cents soon?
Elon Musk is under SEC Investigation…Again?
Elon Musk Backs out from Twitter – Is Dogecoin Price Affected?
Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
Will Twitter Soon Accept Dogecoin? Can Dogecoin Reach $1?
BIGGEST Shiba Inu Prediction: How High can SHiB reach before 2023?
Ripple Price Prediction – How High will XRP reach in 2050?
You might also like
More from Altcoin
Those 3 Altcoins can BOOM in the next few weeks! Do you Hold any?
Now that Bitcoin is nearing $30,000, which altcoins will follow and boom? Here are the top 3 altcoins to look …
XRP Prediction for the next 3 months – can XRP reach 70 cents soon?
The banking crisis is making the situation very uncertain. Let's analyze XRP and see where its prices can reach in …
Bitcoin Price Next Big Move: Will It Hit the Million Dollar Mark in 90 Days? Potential Scenarios Explored
In this Bitcoin price prediction article, we'll explore the potential scenarios for Bitcoin's big move and what it could mean …