The news came into the limelight on Sunday eve that Elon Musk might soon step down as the CEO of Twitter.
This news was different from what the DOGE community was looking for. Moreover, the DOGE’s price trend on Sunday also suggested that the information did not go well for the DOGE.
The price of DOGE dropped by 2.0%, and the currency was trading at $0.077 following this news.
DOGE recovered from the $0.074 area and now faces a similar situation after this unfortunate news.
Elsewhere, crypto experts have also said DOGE price will remain downbeat.
The price of DOGE was high from the mid of October until the end of November amid the rumors that Elon Musk will make DOGE the official payment method for Twitter 2.0.
But the rumors that Elon Musk will step down as the CEO of Twitter sooner than later have killed the DOGE’s bullish.
What is Next for DOGE and How Far It Can Go?
First thing first, even though Elon Musk resigns as the CEO of Twitter does not mean that his influence on DOGE and the future of Twitter will be overshadowed. He will still be the owner of Twitter and the face of DOGE.
So, in that regard, there is no need for the DOGE community to lose hope. The chances are still very high that DOGE will be the future of Twitter’s cryptocurrency adoptions.
But any such futuristic ifs and buts certainly offer no value regarding the current price of the DOGE.
Any further decline in the price of DOGE means that the crypto token is on its way to going down in the $0.055-$0.068ish range.
According to TradingView, DOGE Can Touch September/October Range
Even though there are concerns that DOGE might go further low. But the long-term horizon of DOGE gives an optimistic picture.
Back in October, when other currencies were going down, DOGE surged upward. DOGE’s bulls only hope for a short-term dip if its price goes further down.
But for the long-term performance of DOGE, bulls are hopeful for a price hike in 2023.
Experts also believe that long-term indicators of DOGE are not only strong by very much in the green region.
However, it has been advised that investors must not invest in the meme coin for the remaining days of 2022.
Musk Stepping Down As the CEO of Twitter
Over the weekend, Elon Musk asked to conduct the poll and said lets people decide whether I shall continue as the CEO of Twitter or not. He also assured that he would respect public opinion.
As the results have closed, more than 57% of people have voted yes that Elon Musk should step down.
Musk has a history of respecting people’s decisions. Commenting on the outcome, many Twitter users have said that Elon Musk was already looking to step down as he had other plans in line.
The Crypto community, on the other hand, shared their concerns that Elon Musk stepping down as the CEO of Twitter might delay the project Twitter 2.0.
But the good news is that despite all these uncertainties, Altcoins, including DOGE, offer quicker returns.
Moreover, in recent days investors have been investing massively in Altcoins. This means chances are high for the DOGE coin to stay competitive despite the resignation of Elon Musk as the Twitter CEO.
Technical indicators for DOGE are favorable as experts are sure that DOGE will see price hikes in the long run.
But how high DOGE can go is impossible to predict at the moment. But investors need to have a look at DOGE’s price patterns.
It is worth mentioning that DOGE managed to pump back even in October when all the other altcoins fell apart. So, DOGE has this tendency to fight back the market bears to emerge as the victor.
