Elon Musk no longer a Twitter board member; Will Dogecoin still thrive?

Sahana Kiran
Source – Chron

Elon Musk, the CEO of Tesla and full-time enthusiast of Dogecoin [DOGE] broke the internet by emerging as the largest stakeholder on Twitter. This announcement paved the way for multiple requests and ambitions pertaining to the dog-themed cryptocurrency. Expectations grew bigger after news about him joining the board surfaced. However, Musk didn’t seem to be as interested.

Earlier today, Parag Agrawal, the CEO of Twitter shared a note pointing out why Musk wasn’t going to be a part of the Twitter board. Agrawal highlighted that the team wanted to onboard Musk considering he was the largest shareholder of the social media platform. However, the Dogecoin proponent decided to back out on the morning of his official appointment.

During the weekend, Musk lifted the spirits of the Dogecoin community by hinting at the possible addition of DOGE as Twitter Blue’s official payment method. A DOGE tipping jar on Twitter was also highly sought after by the community.

The latest news of Musk no longer being a board member disappointed many. Several began speculating that the Tesla CEO’s Dogecoin-centric ambitions could be haggard by his latest move. A few others, however, suggested that Musk was on his way to acquiring a bigger stake at the firm. At present, he entails a whopping 9.2 percent stake in Twitter.

Will Musk keep Dogecoin relevant?

Dogecoin has been struggling for years with regard to its price. Despite entering the market nearly a decade ago, DOGE failed to amass the support required to push past $1. Musk’s partial acquisition of Twitter, however, aided in the surge of the altcoin. But Musk’s withdrawal from the board could likely cause chaos.

But, CEO Agrawal affirmed that Twitter would “always value input” from their shareholders irrespective of their inclusion on the board. Considering Musk is their biggest shareholder, his input would be looked into. This could mean that Musk could continue to pitch Dogecoin-centric ideas to the social media giant.

The CEO of Binance, Changpeng Zhao aka CZ backed this notion by tweeting,

Additionally, during press time, the dog-themed altcoin recorded a 1.28 percent surge and was priced at $0.1473. Notably, DOGE was the only asset that hadn’t endured major loss over the last couple of days.