Elon Musk unveils dog-themed CEO for Dogecoin

Once again, Elon Musk has left the Dogecoin [DOGE] community puzzled over what role meme cryptocurrency could play in the Twitter rebrand that the company is planning to undertake. Dogecoin enthusiasts had hoped before Musk made the latest links that he would consider the meme coin as a payment mechanism for the microblogging platform. Despite that, nothing has come of it.

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What is the current value of 1,10,100 DOGE?

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CEO, a DOGE fan, tweeted a new dog-like CEO on February 14. In response to this action, some speculated that the new CEO would have some resemblance to Musk.

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Hikes in DOGE territory

After the tweet, DOGE's stock rose by 5.28%. Musk's tweet, however, did not affect price action. As of early February 15, social volume reached 1516, as determined by chain analysis.

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It is based on the number of text documents that contain a search for an asset within a range of text documents that have been collected. Thus, during the course of the event, investors were quick to look for DOGE as a result of the rally. However, that was not the lone ranger who led the movement.

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The data from Santiment indicates that positive sentiment towards DOGE has rapidly moved up the ladder to 985 according to the data. The data, however, indicated that the excitement surrounding the coin had waned by the time of press time.

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Ahead of his departure at the end of 2023, Musk confirmed he would ensure a smooth transition to a new CEO as reported by Trade Algo.

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Despite the fact that he noted that he needed to make sure things were in order for the smooth transition of a new CEO. Musk said in response to Twitter's struggles to become profitable:

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“I need to stabilize the organization and make sure it’s in a financially healthy place and the product roadmap is clearly in place.”

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A meme supporter to replace the man?

The controversial tweet was followed up by a conversation. Musk responded: “Way better than that other guy! ” under the thread as Dogecoin co-creator Billy Markus responded.

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In terms of Bitcoin, here is DOGE's market cap.

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In response, Musk retweeted a "DOGE-themed" board of directors posted by a project designer, further fueling speculation.

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Despite the bickering, Musk remained tight-lipped about who was chosen. The Dogecoin community, however, kept their hopes high at press time.

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