Dogecoin Keeps Plunging Amid Musk’s Early Twitter Debacle

Nov 08,2022
Dogecoin Keeps Plunging Amid Musk’s Early Twitter Debacle

According to the Financial Times, the price of the industry-leading meme cryptocurrency Dogecoin has dropped by 4.71% in the past 24 hoursCoinMarketCap Data.

Bitcoin market of Binance Exchange reached the highest value of 0.158 US dollars after a triple digit increase. Now the price of BTC's parody has fallen by more than 24%

As of submission, meme cryptocurrency is changing hands at 0.123 US dollars

It is reported that the recent increase of Dogecoin's planet is due toService platform reportThe social platform stopped developing and designing its own cryptocurrency wallet. The sales market felt that Twitter gradually reduced its data encryption plan after the acquisition of Musk

In addition, the tenure of Musk's "Top Twitter" has gradually become very poor, which will seriously affect the main performance of the price of meme. Advertisers fled the company in droves. Musk recently used his own account with 110 million fans to enlarge the terrible left-wing error report and destroy half of Twitter's employees

Musk also tried to drive verified Twitter accounts to pay $8 a month to get them to subscribe to a new Blue service. This may be a helpless attempt to rescue the company that is facing bankruptcy. The company is now losing a lot of money

The objectionable billionaire also stressed that the dark blue subscriber will get ownership in the response, which will suppress the noise of doubt and increase the error report

Advertising accounts for 90% of Twitter's annual salary. Musk is very unlikely to make up for his high losses by paying for subscriptions

With the uncertainty of Twitter's future, it seems that Dogecoin's plan will definitely fall into the second tier