The world’s wealthiest man and the new head of Twitter, Elon Musk, assumes it’s going to be a long crypto winter, but Bitcoin (BTC) will make it through. However, the plans to implement a crypto wallet into Twitter’s system have been put on hold. This is mostly due to the fact that the fresh CEO decided to lay off more than 50% of staff.
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BTC will make it, but might be a long winter— Elon Musk (@elonmusk) November 14, 2022
The Massive Chaos Of Crypto Winter
Amid the chaos going on in the IT sector, the Twitter Wallet seemed to be fading away, but now it receives a substantial number of social mentions, as Crypto Twitter desperately needs a bump to wash away the FTX fiasco. On top of that, Elon Musk’s cherished memecurrency Dogecoin (DOGE) bounced right back to the $0.08 key resistance level when the Twitter Wallet crypto project was paused.
However, “Twitter & Doge Integration is Inevitable”, as popular crypto influencer Doge Designer articulately expressed.
Indeed, Musk said in a recent Twitter Spaces appearance that “Well we are looking at a lot of things. Right now, Twitter just has to get the basics right.” The plans were once again guaranteed, with Musk chanting “Dogecoin To The Moon!!” and explaining Twitter didn’t cut a deal with SBF of the fallen FTX (FTT), because the former boss “gave out bad vibes.”
Just had Elon speak on the space about a few topics including Doge, Twitter and SBF. Some interesting points mentioned:1. "Doge to the moon"2. SBF wanted to invest in Twitter but gave away VERY bad vibes3. If it's not your key it's not your walletWhat was your highlight?— Mario Nawfal (@MarioNawfal) November 12, 2022
DOGE’s On All Fours Amid Crypto Turmoil
At press time, the 8th ranked Japanese dog themed memecoin DOGE trades at $0.088388, having declined by 0.8% in the last 24 hours. However, it still enjoys a healthy growth of 50.8% in monthly terms, as it skyrocketed all the way to $0.155102 on November 1st, 2022.
The bull run came a couple of days after Elon entered Twitter’s San Francisco headquarters with a sink in his hands to wash away Twitter’s sins. Now, Elon ‘The Dogefather’ Musk condemns the NY Times with a rhetorical question about the SBF story: “Why the puff piece?”.
The story received strong backlash from the crypto community, with Sam Bankman-Fried trending on Twitter on Tuesday morning for the same reason. To illustrate, economist Alex Krüger called the report “disgraceful”, while Kraken founder Jesse Powell said of the Times journalists “It’s too generous to call these people clowns. They betray their duty.”
The MSM needs to take accountability for its role in contributing to the legitimization and high status of this insolvent ponzi. Without the media's backing and the endless puff pieces, victims would not have been so trusting with their savings. Even now, they downplay the story. https://t.co/Y10OzaSwEl— Jesse Powell (@jespow) November 15, 2022
On the Flipside
- Vitalik Buterin, the co-founder of Ethereum (ETH), donated $2.5 million of DOGE to the Dogecoin Foundation.
- The public figure of the second largest crypto had been “an early supporter who has been helping fund Doge development”, according to the Doge Whisperer.
Why You Should Care
Still healing the wounds from the Terra (LUNA) and Terra (UST) disasters that sent previously successful crypto hedge funds like Voyager Digital and Three Arrows Capital (3AC) down the tubes, now the crypto industry has another obstacle with the downfall of the second largest crypto platform, FTX.
Find out what’s going on in the crazy world of memecoins:
Dogecoin (DOGE) Founder Billy Markus Declares He Created Bitcoin (BTC)
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