Dogecoin drops by 11% after Elon Musk’s Twitter interview

The value of the Dogecoin meme cryptocurrency fell by 11% after an Elon Musk poll in which more than 10 million Twitter users voted for the billionaire’s resignation as CEO. The price of DOGE $0.12 Dogecoin -2.38% Market capitalization $17.48 billion VOL. 24 hours $29.94 million has now stabilized.

On Sunday, December 18, Musk asked his followers whether he should resign as CEO, promising to abide by the results of his poll. A vote by followers showed that 57.5% of respondents wanted Musk to stop doing anything with the social network.

Should I step down as head of Twitter? I will abide by the results of this poll.

— Elon Musk (@elonmusk) December 18, 2022

It is worth noting that the 11% drop is not the only case when the Dogecoin rate reacts to Elon Musk’s statements and actions regarding Twitter. At the end of November, Dogecoin’s meme token grew by 19.4% after Elon Musk published a post about Twitter 2.0 — the head of the social network posted a part of the presentation about the next version of the platform, which was presented to the company’s employees in their office.

Regarding the new Twitter CEO, there have been many speculations on social media about who might succeed Musk. Former U.S. intelligence officer Edward Snowden announced his desire to become the new CEO of Twitter. The newly minted citizen of the terrorist country of Russia said that he would not mind receiving a salary in bitcoins.

Another resonant assumption concerns Jared Kushner, the son-in-law of former US President Donald Trump. Kushner is friends with the Saudi royal family, one of Twitter’s largest investors. Kouchner and Musk were seen together at the Lusail Stadium in Qatar during the World Cup final, and the rumors started from that moment.