Elon Musk issues an ultimatum to Twitter employees, can DOGE still progress?

The price of Dogecoin has increased by 1% in the last 24 hours and now stands at $0.085864with a significant increase of 43% since last month. The memecoin has certainly benefited from this strong growth thanks to the takeover of Twitter by Elon Musk for 44 billion dollars, but the social network is currently going through a crisis after the takeover of the new director. It now looks less likely that DOGE can continue its long-term uptrend.

The price of DOGE remains 88% below its all-time high of $0.731578, reached in May 2021. There is still a long way to go before it regains its former all-time high.

Dogecoin Price Prediction: Elon Musk Issues Ultimatum to Twitter Employees, Can DOGE Still Progress?

The DOGE indicators present a mixed picture, with its relative strength index (purple) enjoying a strong increase after hitting 40 and now suggesting a possible rebound. On the other hand, its 30-day moving average (red) has potentially already peaked in its ascent above the 200-day moving average (blue), signaling a possible downtrend.

This relatively gloomy and confusing situation is not helped by the fundamentals of Dogecoin, which are very closely tied to Twitter and the latter’s takeover by Elon Musk. Indeed, Twitter 2.0, as the American billionaire likes to describe it, has already suffered a very large series of resignations from its employees for several days.

These resignations came amid Elon Musk issuing an ultimatum to his employees, the director asking them to commit to a stronger and more intense company culture, and by extension to an increase in working hours. work. But it now appears that many employees do not appreciate the new vision that the founder of Tesla and SpaceX is putting in place for the social network.

In fact, some estimates suggest that 75% of the 3,700 Twitter employees Musk still had just quit. As a reminder, Elon Musk previously dismissed 50% of all Twitter employees, as soon as he took a stand. Worse still, the company has officially announced that its office in San Francisco will remain closed until Monday.

Now, observers expect Twitter to suffer a cascade of technical issues, with a dwindling number of employees available to repair the damage. The hashtags #RIPTwitter and #TwitterDown have been trending for a few hours, indicating the mood of the moment.

All these events strongly affect Dogecoin since so far these gains in recent times have been strongly linked to a hope that Elon Musk will introduce payments in Dogecoin on Twitter. Now it looks difficult to see that happen, with Musk trying to convince his engineers to stay with the company.

As a result, DOGE’s gains made since late October will almost certainly be undone in the coming weeks as Elon Musk’s acquisition of Twitter spirals into meltdown. Of course, it is quite possible that the American billionaire will manage to turn the situation to his advantage by proposing a crypto integration of Dogecoin, but at the moment this seems very unlikely.

Note that old reports had hinted that Musk had already rolled back the crypto integration, as the Twitter boss wanted to prioritize revamping a new subscription system. As a result, there could still be a long wait before DOGE gets another boost from Elon Musk.

At the same time, it is important to point out that the fundamentals of DOGE are very weak for such a large market cap. On the technical side, when we look at the modifications of the Dogecoin developers on GitHub for 12 months, we see that it is ranked in 108th place, behind Ocean Protocol.

The lack of development for the Dogecoin protocol highlights that its recent gains are the result of hype more than anything else. It also has quite a few partnerships, with from time to time a seller Internet which declares to accept some for its online store.

In other words, leaving aside the association with Elon Musk, DOGE doesn’t have much to offer right now. And with Elon Musk’s name potentially becoming toxic due to this failed Twitter takeover, such an association could do more harm than good in the future.

Other promising altcoins

While the DOGE appears to be more likely to fall than to rise in the short term, there are several altcoins that show a very significant potential for return on investment, even in the chaotic context of a market still shaken by the fall of FTX.

The altcoins we are going to present to you are currently in their pre-sale phase, which implies that investors can acquire them at a discounted price before they are listed on exchanges, and recent history has shown that it was possible to make very large profits.

The three altcoins to watch are the projects with presales that appear to be the most interesting. Each of these tokens possess strong fundamentals, and the respective presales continue to attract investors.

Dash 2 Trade (D2T)

Dash 2 Trade is a trading platform based on the Ethereum blockchain where investors can take advantage of a wide range of market analysis tools and technical indicators. These tools aim to help investors make decisions under the best possible conditions.

With an expected launch in the first quarter of 2023, the pre-sale of its native token D2T has already raised more than $6.4 million. There was also the announcement of a listing on BitMart and LBANK Exchange for early next year, confirming that investors will have the opportunity to trade the token on good terms.

Do not hesitate to consult the official website of Dash 2 Trade

Calvaria (RIA)

Calvaria (RIA) is a new crypto gaming project that relies on trading collectible cards, which are represented in the form of NFTs, and which can also be used to battle other players and earn rewards. What differentiates it from other titles is that users will be able to play without having to pay a single penny. In addition, they will not have to own cryptocurrencies, which will make the game more popular with casual gamers.

Within its ecosystem, the RIA token will be used to purchase in-game items and for the stacking system, which gives it a strong utility. The presale for the token has already raised over $1.8 million and is currently in its fourth stage, during which 40 RIAs can be purchased for just 1 USDT.

Consult the Calvaria project website by clicking on this link.

RobotEra (TARO)

Also based on the Ethereum blockchain, RobotEra (TARO) is a sandbox-like metaverse where players can embody robots and participate in the creation of a shared virtual world. Its alpha version will be available in the first quarter of 2023, with an ecosystem that will allow users to create their own NFTs of lands, buildings and other objects integrated into the game.

1 TARO is currently selling for 0.020 USDT and can be purchased using USDT or ETH, however it should be noted that the price will soon increase to 0.025 USDT in the next stage of the presale.

Do not hesitate to consult the official website of RobotEra

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