Days after Elon Musk revealed a slew of changes since assuming control of the microblogging network, Twitter is apparently stopping its intention to provide a cryptocurrency wallet. The news seems to have seriously damaged Dogecoin
What Took Place: Recently disclosed proposal to develop a cryptocurrency wallet for Twitter seems to be on hold. As a result, DOGE fell 10.86% in the previous day. At the time of writing, DOGE is trading for $0.1188.
Musk has been a prominent promoter and engaged shareholder of DOGE. In fact, between October 25 and October 29, since he bought Twitter, the value of the meme coin increased by approximately 150%.
The hourly chart for Dogecoin, according to cryptocurrency specialist Justin Bennett, looked “interesting.” He cautioned in a tweet, “Be careful. The pinnacle comes into play before Friday NFPs.
The corporation is anticipated to let go of more than 50% of its workforce.
Twitter did not answer right away when Benzinga asked for a response.