Elon Musk Resigns At Twitter, Dogecoin Price Drops Over 10%

Key Point:

Elon Musk Will Resign as CEO at Twitter after voting results.
Twitter boss will leave as soon as he finds the right CEO.
DOGE price drops more than 10% after this news.

The results of the vote generated by Elon Musk himself made it possible for him to step down as CEO of Twitter. Immediately after Dogecoin supporters confirmed the information, the price of this coin meme suddenly dropped by nearly 10%.

Earlier on December 19, Billionaire Elon Musk and the owner of Twitter posted a public vote for users to vote on whether he should give up the top position of Twitter and said to follow the results of the vote.

Notably, the vote ended on the evening of December 19 with more than 17.5 million votes, 57.5% of which said “Yes” to Mr. Elon Musk’s proposal to resign.

This result also seems to reflect users’ outrage at Twitter’s new policy of not allowing users to link to other social networks in their profiles. According to users, it is a clear violation of each person’s right to freedom of speech, which Elon Musk has vowed to put first after taking over Twitter.

After the results of the vote, Mr. Elon Musk officially said that he is ready to leave the CEO position of Twitter and move on to manage the software & servers teams, but only if he has found a suitable replacement candidate.

As soon as the vote was posted, the price of DOGE immediately dropped by nearly 10%. This is seen as a reaction of the meme coin to its loyal supporters. Currently, the price of DOGE is still down 2.81% in the last 24 hours. It is currently trading at $0.07269.

24h DOGE price chart. Source: Coincu.com

Even so, an interesting news Dogecoin currently maintains a market capitalization of $9.6 billion, making it the 8th largest cryptocurrency in the world.

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