After the first price increase brought on by Elon Musk’s official acquisition of Twitter, Dogecoin’s primary supporter hasn’t really talked much about it.
If we look at the price changes over the past two weeks, DOGE has been in the red, with an almost 20% decline since Elon said he would be stepping down.
Of course, the Dogecoin team is now working on a variety of different initiatives to increase the project’s usefulness, but Elon resigning as CEO could be a major setback for the meme coin.
Dogecoin Price Prediction: Will Elon’s Resignation Spell DOGE’s Demise?
On December 19, Elon Musk asked Twitter users if they thought he should resign as CEO and promised to “abide by the outcomes” of the poll.
He declared that he would respect the outcome once more than 57% of voters chose “Yes” as soon as he found someone “crazy enough to take over.”
It’s fantastic news for Dogecoin that he owns Twitter even though he doesn’t act as its CEO.
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The bad news is that almost no one has mentioned DOGE since Elon took over, and the initial 150% price increase was entirely due to speculative activity.
Of course, there is a possibility that a Tesla-like model will be included, but there is no assurance.
And it appears more likely that BNB will play a bigger role on the platform given that Binance risked $500 million to take Twitter private.
If this occurs, DOGE is likely to drop quickly below the $0.03 threshold.
So, these are the cryptos you should concentrate on if you’re searching for a safer investment right now that also has the potential to generate much higher returns.