Benzinga – Information of Elon Musk stepping down as Twitter’s CEO despatched the worth of cryptocurrency Dogecoin (CRYPTO: DOGE) decrease. The transfer, nevertheless, might need been an overreaction, since Dogecoin seems to be supported by the social media platform’s new CEO.
What Occurred: Elon Musk introduced that Linda Yaccarino will develop into Twitter’s new CEO. The announcement on Friday got here in the future after Musk introduced he was stepping right down to give attention to product design and new know-how.
“@LindaYacc will focus totally on enterprise operations, whereas I give attention to product design & new know-how. Trying ahead to working with Linda to remodel this platform into X, the every part app,” Musk tweeted.
Yaccarino will start the position in six weeks, a transfer that comes after the brand new Twitter CEO stepped down from her current position as chairman of world promoting and partnerships at Comcast Company (NASDAQ: CMCSA) unit NBCUniversal.
The brand new Twitter CEO has since seen her follower depend rise after Musk’s announcement. Yaccarino follows over 1,100 accounts on Twitter, together with the official Twitter accounts of cryptocurrencies Shiba Inu (CRYPTO: SHIB) and Dogecoin. She additionally follows Billy Markus, the co-creator of Dogecoin, and several other notable Dogecoin influencers.
Associated Hyperlink: How To Purchase Dogecoin (DOGE)
Why It’s Necessary: Dogecoin has seen assist over time from Musk, which has typically led to spikes in worth and buying and selling quantity.
Musk’s acquisition of Twitter was seen by many within the cryptocurrency house as a optimistic, because the social media platform may doubtlessly combine crypto into funds or different instruments.
Musk’s exit as CEO, nevertheless, despatched the worth of Dogecoin down, as many believed that the combination can be an afterthought.
With Yaccarino in cost, future integrations on Twitter may nonetheless occur.
DOGE Value Motion: Dogecoin traded at $0.07189 on the time of writing, up 1% within the final 24 hours. Dogecoin is down 9% within the final seven buying and selling days and has traded between $0.04972 and $0.1572 during the last 52 weeks.
Learn Subsequent: This is How Much $100 In Dogecoin At present May Be Price If DOGE Returns To All-Time Highs
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