Dogecoin Price Prediction – What Does Musk’s Retirement Affect DOGE?

DOGE may fall back to the September/October course. Source: TradingView

Elon Musk may step down as CEO of Twitter in the foreseeable future. If we look at the effect of the news on Dogecoin’s price last Monday, we see that the news is not being absorbed. DOGE, the token that powers the decentralized blockchain payment network, has fallen by more than 5% in the past 24 hours.

The token currently has a price of €0.0698. With that, the token trades just under 7 cents. With this, the token has reached its lowest price in more than a month and is worth about 15% less compared to 30 days ago.

Traders appear to be retesting November’s double bottom, which also coincides with the 78.6% Fibonacci retracement level from the November peak at around $0.15. DOGE rose in late October after Twitter was acquired by Musk and he proposed that Dogecoin be used as a means of payment.

Price forecast – What will happen to DOGE?

If Musk steps down as CEO of Twitter, it will not mean the end of his influence on the company. After all, he still remains the owner of the social media. As a result, this is not the end of the world for the Dogecoin community and they continue to hope that Dogecoin can be integrated with Twitter.

However, this hope is not reflected in DOGE’s price movements yesterday. The meme coin started a significant decline and could only go towards a price of €0.05. A course that also came close in September and October.

DOGE rate
DOGE could fall to October and September rates. Source: TradingView

Still, it’s not so bad if you look at the long term for Dogecoin. DOGE broke through a long-term downtrend during the late October rally. Dogecoin bulls are therefore hoping for a brief dip to $0.05 to stock up on the tokens for a long-term rally to new highs.

Potential DOGS
Long-term fundamentals look good for DOGE. Source: TradingView

Musk potentially steps down as Twitter CEO

Over the weekend, Elon Musk launched a poll on Twitter asking visitors to the social media site whether he should step down as CEO of Twitter. A majority of 57.5% answered with ‘YES’ and 42.5% with ‘NO’.

Musk has a history of tracking the results of key polls he conducts on Twitter. For example, he has asked the public whether he should sell $10 billion in Tesla stock and, in another poll, whether he should buy Twitter. This reinforces the idea that Twitter will indeed get someone other than Elon Musk as CEO in the near future.

Some tweeters even claim that Musk already has an intended successor lined up and ready to leave Twitter.

Tesla, of which Musk is also CEO, has seen its share price fall in recent weeks as investors fear Musk is losing focus over the Twitter acquisition. Tesla shares rose several percent in pre-market trading on optimism surrounding Musk’s impending resignation as Twitter CEO. However, Tesla returned that gain during the day.

Musk’s latest Twitter controversies

Elon Musk’s recent actions as CEO of Twitter have drawn a lot of criticism. The vote to stay on as CEO could possibly be the result of that. A few days ago, Musk was in the news again after he removed a number of journalists from the platform after they linked to information about Musk’s travels and private jets.

After strong criticism, these journalists were allowed back on the platform a few days later, after he had also held a vote on this. Additionally, he has received some criticism after banning users promoting other platforms, such as competing Facebook, Instagram and Mastodon.

Altcoins for faster profits

Cryptocurrencies have seen little positive price movement in recent weeks. As a result, many investors have started looking for new alternatives, such as metaverse coins and other new cryptos.

Below are some emerging cryptos that have the potential to become very big.

FightOut (FGHT) – Pre-sale has just started

FightOut, a brand new Move-to-Earn (M2E) fitness app and fitness chain that aims to connect Web3 with a fitness lifestyle, has just launched pre-sales.

This pre-sale is attracting investors who believe the project could disrupt the current Web3 industry where you move to make money. Existing M2E apps, such as STEPN, only track steps. Additionally, you need expensive NFT buy-ins to join the platform. FightOut takes a different approach and rewards users in multiple ways and for many different activities. In addition, there is no need to purchase expensive NFTs to use the app.

FightOut’s FGHT tokens currently cost 1 USDT per 60.06 tokens. Interested investors are encouraged to purchase tokens quickly as the pre-sale has already raised over $2 million in a few days. FGHT is the engine behind these tokens.

See the FightOut pre-sale here

Dash 2 Trade (D2T) – Pre-sale enters final phase

For those interested in a new crypto trading platform with more comprehensive analytical tools, there is Dash 2 Trade. This new crypto intelligence project enables users to make better investment decisions through highly advanced features.

These features and tools include on-chain indicators, a pre-sale scoring system, trading signals, quote notifications, market sentiment information and a strategy backtesting tool. The Dash 2 Trade system is supported by the D2T token. These are required by users to access the platform.

Dash 2 Trad’s pre-sale is currently going strong and has already raised more than €10 million. In addition, it is known that the token will be listed for the first time on January 11, according to the Dash 2 Trade pre-sale page. At this point, 77% of the tokens in the presale have been sold, and the presale is still 17 days away. So be quick before all tokens are sold out.

See the Dash 2 Trade presale here

Calvaria (RIA) – The final pre-sale phase has begun

Big games in the crypto blockchain sector have lost investors’ attention in 2022. As a result, many investors have been looking for new projects in the Web3 Gaming industry. Calvaria is one of the projects that is gaining popularity right now.

Calvaria hopes to accelerate crypto gaming adoption by building a bridge between the real world and crypto in the form of a fun, accessible crypto game.

Currently, Calvaria has entered the final phase of the pre-sale and has already raised more than €2.5 million. Only 19% of the available tokens from the presale are still available. It is therefore wise not to wait too long to enter this potential crypto topper.

See the pre-sale of Calvaria here

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