Amid Elon Musk’s Twitter Frenzy, Dogecoin And Shiba Inu Tank 15%. Is Dogeliens A Better Alternative?
When Elon Musk completed his takeover of Twitter, the crypto markets reacted positively, reaching new heights after several months of passivity.
However, a week in, and things aren’t looking so green anymore. Both Dogecoin (DOGE) and Shiba Inu (SHIB) have lost 15% of their value in recent days, and their prices could drop further. Is this the final sign that DOGE and SHIB are unviable currencies for crypto enthusiasts, and is Dogeliens (DOGET) the perfect replacement for these two famous dogs?
What Happened To Twitter After Elon Musk Took Over?
While the crypto market turned green amid the news Elon Musk was completing his takeover of Twitter, the same could not be said of Twitter employees.
Following the takeover, Musk initiated a huge wave of layoffs, cutting several departments, which amounted to almost half of the entire company. Departments that have been shut down include human rights, accessibility, machine learning ethics, transparency and accountability, and communications. This has made many question how Twitter will continue to function without these critical roles.
Additionally, Musk introduced a controversial $7.99 per month blue verification checkmark subscription. This would replace the previous verification system, which would only checkmark those who Twitter had specifically been in contact with.
Dogecoin Plummets by 26%, And Shiba Inu Tanks by 15%
Although some welcomed Musk’s changes (especially those who found fault with the original verification system), the reaction in the crypto market is not as positive.
Originally Musk’s takeover of Twitter boosted Dogecoin by a whopping 150%, while Shiba Inu gained an additional $2.29 billion in market capitalization on CoinMarketCap. This was primarily due to Musk’s previous endorsements of Dogecoin and the Shiba Inu dog breed. Moreover, the rumor that he would install DOGE as a payment method on Twitter also perpetuated the market increase.
However, now that more details have been revealed about Musk’s plans for Twitter, Dogecoin, and Shiba are beginning to shake. From the 29th of October 2022, both DODGE and SHIB began to fall little by little to a loss of over 15% each. In the last seven days alone, DOGE dropped by 10% and Shiba Inu by almost 5%. Although impossible to directly correlate their losses with Musk’s Twitter controversies, the pattern is there to see.
Why Dogecoin And Shiba Inu Should Take A Page Out Of Dogelien’s Book
For too long, meme currencies like Dogecoin and Shiba Inu have held no intrinsic value other than cultural value. For this reason, the two currencies have been known to rise and flop according to Elon Musk’s various escapades
Dogeliens, on the other hand, is the ‘new king of meme coins’ from the planet Puptopia, which has come to ‘save the earth from mediocre cryptocurrencies’. Promising utility rather than only banter, Dogeliens have several detailed features that will help its ecosystem come to life and continue thriving for the long term.
The creatively named University of Barkington will allow DOGET holders to participate in learn-to-earn or teach-to-earn mechanisms. Not only will the online university give users access to educational content on cryptocurrencies, NFTs, Defi, and the blockchain, but also on niches such as web development and graphic design. Fundamentally, Dogeliens stresses the importance of education in both its university and charity projects.
Dogelien’s ecosystem will help it stand on its two feet (without the help of Elon Musk). This is why although Dogecoin and Shiba Inu may prove to be popular, their long-term survival is called into question by their lack of utility. Dogeliens, on the other hand, could take to the stars.
For more information on the project:
Presale: https://buy.dogeliens.io/
Website:http://dogeliens.io/
Telegram: https://t.me/DogeliensOfficial
The post Amid Elon Musk’s Twitter Frenzy, Dogecoin And Shiba Inu Tank 15%. Is Dogeliens A Better Alternative? appeared first on Analytics Insight.
When Elon Musk completed his takeover of Twitter, the crypto markets reacted positively, reaching new heights after several months of passivity.
However, a week in, and things aren’t looking so green anymore. Both Dogecoin (DOGE) and Shiba Inu (SHIB) have lost 15% of their value in recent days, and their prices could drop further. Is this the final sign that DOGE and SHIB are unviable currencies for crypto enthusiasts, and is Dogeliens (DOGET) the perfect replacement for these two famous dogs?
What Happened To Twitter After Elon Musk Took Over?
While the crypto market turned green amid the news Elon Musk was completing his takeover of Twitter, the same could not be said of Twitter employees.
Following the takeover, Musk initiated a huge wave of layoffs, cutting several departments, which amounted to almost half of the entire company. Departments that have been shut down include human rights, accessibility, machine learning ethics, transparency and accountability, and communications. This has made many question how Twitter will continue to function without these critical roles.
Additionally, Musk introduced a controversial $7.99 per month blue verification checkmark subscription. This would replace the previous verification system, which would only checkmark those who Twitter had specifically been in contact with.
Dogecoin Plummets by 26%, And Shiba Inu Tanks by 15%
Although some welcomed Musk’s changes (especially those who found fault with the original verification system), the reaction in the crypto market is not as positive.
Originally Musk’s takeover of Twitter boosted Dogecoin by a whopping 150%, while Shiba Inu gained an additional $2.29 billion in market capitalization on CoinMarketCap. This was primarily due to Musk’s previous endorsements of Dogecoin and the Shiba Inu dog breed. Moreover, the rumor that he would install DOGE as a payment method on Twitter also perpetuated the market increase.
However, now that more details have been revealed about Musk’s plans for Twitter, Dogecoin, and Shiba are beginning to shake. From the 29th of October 2022, both DODGE and SHIB began to fall little by little to a loss of over 15% each. In the last seven days alone, DOGE dropped by 10% and Shiba Inu by almost 5%. Although impossible to directly correlate their losses with Musk’s Twitter controversies, the pattern is there to see.
Why Dogecoin And Shiba Inu Should Take A Page Out Of Dogelien’s Book
For too long, meme currencies like Dogecoin and Shiba Inu have held no intrinsic value other than cultural value. For this reason, the two currencies have been known to rise and flop according to Elon Musk’s various escapades
Dogeliens, on the other hand, is the ‘new king of meme coins’ from the planet Puptopia, which has come to ‘save the earth from mediocre cryptocurrencies’. Promising utility rather than only banter, Dogeliens have several detailed features that will help its ecosystem come to life and continue thriving for the long term.
The creatively named University of Barkington will allow DOGET holders to participate in learn-to-earn or teach-to-earn mechanisms. Not only will the online university give users access to educational content on cryptocurrencies, NFTs, Defi, and the blockchain, but also on niches such as web development and graphic design. Fundamentally, Dogeliens stresses the importance of education in both its university and charity projects.
Dogelien’s ecosystem will help it stand on its two feet (without the help of Elon Musk). This is why although Dogecoin and Shiba Inu may prove to be popular, their long-term survival is called into question by their lack of utility. Dogeliens, on the other hand, could take to the stars.
For more information on the project:
Presale: https://buy.dogeliens.io/
Website:http://dogeliens.io/
Telegram: https://t.me/DogeliensOfficial
The post Amid Elon Musk’s Twitter Frenzy, Dogecoin And Shiba Inu Tank 15%. Is Dogeliens A Better Alternative? appeared first on Analytics Insight.
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