• Sat. Jul 20th, 2024

Dogecoin (DOGE) Falls Below Resistance After Ye Is Banned From Twitter Once More

Dec 5, 2022

Since Elon Musk acquired Twitter, Dogecoin (DOGE) is constantly making the headlines for all the right and wrong seasons, and it looks like that Dogecoin continues to do so

On Friday evening a significant development took place when Dogecoin’s prices further fluctuated following the news of the development of Twitter 2.0.

The data published by CoinGecko reflected that Dogecoin was being traded at around $0.099559, at press time by the end of Friday eve.

However, the popularity of Dogecoin was not enough to help the coin cross the resistance level of $0.10.

Over the last 24 hours, Dogecoin’s price dropped by 2.5%. Despite the unexpected decline in the price of Dogecoin, the DOGE officials are confident that DOGE will mark a stronger comeback.

More Reasons why DOGE is in the Headlines

For the correction of records, it is worth remembering that apart from the recent price decline, DOGE also made headlines because of its Co-founder’s cold war with other top personalities.

Twitter remained the sole focus of all the turmoil this week. Elon Musk the world’s richest man first went head-to-head with Apple’s CEO Tim Cook.

This was followed by another incident when Ukraine President Volodymyr Zelensky suggest that Elon Musk himself should visit Ukraine, responding to Musk’s tweets about ongoing tensions between Russia and Ukraine.

FAFO Situation and Kanye West Saga

Another famous incident kept buzzing through the whole of Twitter as “FAFO.” Just a few weeks ago Twitter reinstated the American Hip-hop artist Kanye West’s account.

His account was suspended in Ys’s accounting following his controversial Tweets about certain matters targeting a certain community.

Taking the advantage of the opportunity, the hip-hop artist, made the recent fustian about his out-of-the-context business plans with Jewish people, which were nothing but a failure.

Despite the fact, that the American artist was warned to stop his unethical activities and foul language, he categorically refused it.

Kayne West, later on also tweeted that he is quite the admirer of German Dictator Adolf Hitler. Following all these acts, Twitter once more decided to ban Kayne’s account.

However, Kayne reacted by publishing Elon Musk’s picture where Elon Musk was buggered, Kayne West was banned soon after posting that picture.

Elon Musk responded to the situation by claiming that the account was banned for glorifying violence but not for positing his picture being gouged by Ari.

Crypto Community Reacted Quite Strongly To This Saga

Stepping into the war of words between Elon Musk and Kayne West, a renowned crypto influencer David Gokhshtein said that Elon’s point of view seems the obvious solution. He further added that Mr. West has gone too far this time.

David further added that this propaganda by Mr. West seems planned as he trying to gain media attention, which seems pretty dangerous and fatal against a specific community.

Moreover, the overall crypto community argued that the current trends on Twitter indicate that the primary focus of crypto management seems political and it seems that Twitter management is looking less concerned about the development of Twitter 2.0.

Experts, on the other hand, said that since Musk took over Twitter, DOGE has become an integral part of the platform.

It is quite obvious that any controversial and heated debates about critical issues are only going to make DOGE vulnerable.

It is also important to know that, Twitter participation is at an all-time peak when the discussion is regarding the growth of the DOGE, but least when such heated and political debate occurs.

Crypto analysts said that a detailed look at DOGE’s market performance indicates that DOGE posted a 35% gain over the past few weeks following Musk’s argument with Apple.

Moreover, DOGE’s prices were also risen by 7% as the increase in Tesla’s sales was discussed on Twitter.

But the most recent heated discussion between Elon Musk and Kayne West caused a plunge in DOGE’s prices.

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