Elon Musk To Find Crypto-Encouraging CEO; If Not, How Will It Affect DOGE?

• New Twitter owner made many decisions regarding his company.
• He decided to find a new CEO which backs crypto.
• The DOGE is trading at a market price of  $0.08541.

Decisions for Long Term Vision

As soon as Elon Musk acquired Twitter, a slight hike in the Dogecoin movement was seen in the past weeks. This resulted because of the long-back support held by the richest man in the world upon DOGE. But his recent bold decision doesn’t prove to be in the direction to encourage the meme coin. 

Recent news about mass ‘layoff’ in which Twitter was sued on Elon Musk’s decision to cut over 3,700 jobs without providing any notice. After it, almost 42% of employees decided to exit. Then he is now thinking of giving command of his social media company to a new leader. Shortly after closing the biggest leveraged technological deal in history at $44billion, he fired CEO Parag Agrawal, CFO Ned Segal and other top-level executives.

Seeing his other company, Tesla shares declined in value due to the investors losing their interest because of his ‘overindulgence’ in Twitter. Now Elon has decided to reduce the total extra time he is spending there. But he also admits that he will be there until the company sails to a secure future. 

After noting the negative cash of several billion dollars due to the reduction seen on the Twitter account deactivation and suspension. It is also found that the microblogging social media platform can face bankruptcy if the internal problems are not fixed as soon as possible.

The founder and Former CEO of Twitter, Jack Dorsey, when asked about becoming the CEO, denied serving the organization. Also, in the past week, Elon Musk and Dorsey argued over the platform vision and the “birdwatch” feature. Dorsey is focusing on the ‘decentralized social network,’ Bluesky.

Twitter and DOGE

Right after Elon fired top executives, he said to his employees that crypto payments would be a priority. News of DOGE integration with the microblogging platform was in highlight. As per the sources, DOGE will be used in the “Tip Jar” feature. Also, the relaunch of Twitter Blue verification is to be held on 29 November, and meme coin is said to be the mode of payment in it.

However, if the new CEO, which Elon Musk chose, does not encourage crypto, then it may be a bad move in terms of DOGE. But as the new owner is a long-back advocate of DOGE, it is non-probable that he will appoint someone who is not interested in crypto while running Twitter. 

At the time of writing, DOGE is trading at $0.08541 at a volume of $421.95 million in the last 24 hours. In the recent list, it is in the ninth position with a market cap of $11.35 billion, with a hike seen of 0.42% in the last 24 hours. 

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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