On Monday, the price of Dogecoin (DOGE) plummeted after billionaire Elon Musk asked his Twitter users if he should step down as head of the popular social media platform.
The crypto-currency is down 2.2% over the past 24 hours. For comparison, the price of bitcoin has slipped just 0.6% over the same period.
The meme coin remains highly sensitive to Musk’s tweets and comments, so it’s no surprise that DOGE took a hit when the controversial billionaire sent the tweet.
Elon Musk has tweeted several times about Dogecoin and has also expressed his enthusiasm for its potential in various interviews. The Tesla CEO also personally holds the crypto-currency meme.
Should I step down as head of Twitter? I will abide by the results of this poll.
– Elon Musk (@elonmusk) December 18, 2022
After underperforming for almost all of 2022, Dogecoin eventually saw a rise in its price following Elon Musk’s acquisition of Twitter. However, the meme coin took a hit after the platform reportedly abandoned plans to integrate crypto-currency wallets.
It looks like Musk’s time atop Twitter is coming to an end after a series of controversies. As we go to press, the majority of respondents to his most recent poll want him to leave, and Elon Musk has said he would step down if he did. More than 58 percent of those surveyed voted “yes“, which shows that they are not satisfied with his performance since late October, when he took control of the company.
It remains to be seen if Musk eventually bows to the wishes of his users and leaves Twitter.