DOGE Price Declines 2% After Elon Musk Asks Twitter To Vote Over His Resignation
There has been an uproar that greeted recent policy changes on Twitter, weeks after billionaire Elon Musk completed the takeover of the social media platform. The new Twitter owner has called on voters to decide whether he will remain the platform’s CEO.
The move has brought confusion to the Dogecoin community, as many wonder what it could mean for the meme-themed digital currency.
Crypto Community Reacts To Twitter Votes
At the time of this writing, over 14.3 million people have voted in the poll. Voting will end today at 6:00 a.m. ET. However, 57% of the voters have called for the resignation of the Tesla owner.
Furthermore, the vote has generated buzz within the digital asset industry, with Vitalik Buterin, Ethereum’s founder, commending Musk for his latest action. Interestingly, Michael Saylor, the Bitcoin maximalist, asked his Twitter followers if Twitter had improved following Musk’s takeover.
However, Saylor’s poll shows that 82% of the respondents think that Twitter has improved after the billionaire’s acquisition. In a rather odd move, Wall Street Silver (a famous Twitter account) retweeted the poll by urging “all liberals” to use the chance to “get rid of Musk.”
Meanwhile, the Wall Street Silver Twitter account continues its claim that the Tesla boss must resign from the Twitter board. In response, Musk stated that “no one is ready to take the job that will keep the platform alive. Twitter currently has no successor.”
Nevertheless, rumors have been swirling around that Jared Kushner, Donald Trump’s son-in-law and former adviser, will be the next Twitter CEO after both of them were spotted together at the FIFA World Cup final in Qatar.
Will DOGE See More Drops?
The Dogecoin community has been restless since the Twitter poll was made by its most prominent supporter. But, as it is well-known within the industry, the billionaire has been the most consistent fan of the meme-themed digital currency.
The Tesla CEO’s tweets, utterances, and actions have boosted DOGE’s price surge above other canine-themed cryptos. After his Twitter takeover, Musk hinted at integrating DOGE as a means of payment on Twitter.
The announcement caused an increase in the asset’s price for some weeks. However, if the tech entrepreneur resigns as the head of Twitter, Dogecoin will likely lose its most influential advocate.
Meanwhile, if he resigns, the expected role the billionaire will take on Twitter is yet unknown, given his critical influence on the crypto industry. However, it is worth noting that Musk is also part of the four-person board of the Dogecoin Foundation.
Hence, it is likely that he will continue to push for more utility for the asset even if he were to step down as Twitter CEO. Twitter has been in the spotlight for some time for its controversial policies, including blocking several users’ accounts.
The company also barred users from promoting other social media platforms on its site. At the time of writing, DOGE is down 5.1% and currently trades at $0.075, according to Coingecko data.
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