Tesla CEO Elon Musk, who also doubles up as Twitter’s owner and CEO, launched a Twitter poll over the weekend, asking his followers on the social media platform whether he should step down as head of Twitter.
Should I step down as head of Twitter? I will abide by the results of this poll.
— Elon Musk (@elonmusk) December 18, 2022
The poll concluded with 57.5% of respondents for the idea of Elon Musk stepping down. A total of 17.5 million individuals voted for the poll translating to 10.06 million Twitter users believing that Mr Musk should step away from the top job at the famous social media company.
There is No Successor – Elon Musk
However, in a follow-up Tweet responding to a statement by Twitter community member @WallStreetSilv, Elon Musk stated that ‘no one wants the job who can actually keep Twitter alive. There is no successor.’
No one wants the job who can actually keep Twitter alive. There is no successor.
— Elon Musk (@elonmusk) December 19, 2022
Dogecoin Risks Dipping to $0.60
The initial poll by Elon Musk on whether he should leave the role of CEO at Twitter and his additional statement that there is ‘no successor’ could imply that he is not willing to leave the position. However, the ups and downs since he took over have had a negative effect on his favourite meme-coin, Dogecoin (DOGE).
A quick look at the one-day DOGE/USDT chart below, courtesy of Tradingview.com, shows that Dogecoin looks set to erase all gains since late October when Elon Musk purchased the social media company.
Before the Twitter purchase was confirmed, Dogecoin was trading at around $0.60. The meme-coin seems set to retest this level as it remains in bear territory below the 50-day (white), 100-day (yellow) and 200-day (green) moving averages.
However, Dogecoin’s daily MFI (green), MACD and RSI (red) hint at an oversold scenario that could result in a bounce towards the $0.90 price area. But caution is advised going long on Dogecoin given Elon Musk’s idea of him stepping down as Twitter CEO. A confirmation of him stepping down could result in panic selling of Dogecoin.
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