Dogecoin Founder Refuses to Help Elon Musk Build Twitter 2.0

Shibetoshi Nakamoto refuses to aid Elon Musk in building the new generation of Twitter products, but still appreciates the Dogefather.

Elon Musk standing in front of a buff golden Dogecoin statue with thug life glasses and a DOGE sitting on its shoulder.
  • Dogecoin creator Billy Markus rejects the idea of working in Twitter HQ.
  • Dogecoin’s steady price movement trapped DOGE in an ascending triangle.
  • Elon Musk shares a tweet with BONK mascot scaring away competing AIs.

The programmer-turned-comedian Dogecoin creator Billy Markus a.k.a. Shibetoshi Nakamoto clarified on Twitter the recent rumors surrounding his possible collaboration with Elon Musk on building Twitter 2.0. Despite being friendly on Crypto Twitter (Markus recently stated that “Elon is cool”) the original DOGE father is not particularly interested in joining Twitter’s new staff.

How a Joke Turned into a TOP 10 Cryptocurrency

While Dogecoin (DOGE) was created back in December 2013, the Sarcastic Dog Wearing Glasses and fellow software developer Jack Palmer meant the meme-based cryptocurrency as a joke, but DOGE only went mainstream after SpaceX & Tesla CEO Elon ‘Chief Twit’ Musk started showing support.

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However, things suddenly changed in 2021, when Elon Musk took interest in the canine coin and even said in an interview that “fate loves irony” and that a joke currency can become the world’s leading financial asset. Indeed, Shibetoshi is referring to Dogecoin. Elon Musk’s claims catapulted the Japanese guard dog-themed memecurrency to its all-time high at $0.73 on May 8th, 2021.

According to Billy Markus, Dogecoin was worth just $300 million before Elon ‘The Dogefather’ Musk stepped in to lead the DOGE Army on Twitter. Shibetoshi estimates that DOGE’s market cap went from $300 million to $90 billion in less than half a year, nominating The Chief Twit as “the top celebrity to represent your brand”.

DOGE on All Fours as the Bears Return

Despite being unable to hold the next resistance level at $0.10, DOGE price movement has shown stability over the past month with strong support above $0.08, a fundamental price range that has been maintained since January 14th, 2023. The price consolidation around the zone is due to a strong ascending triangle formed around the aforementioned support level.

At press time, the #9 ranked canine crypto is changing hands at $0.080707, according to CoinGecko. Despite the bearish sentiment this month, Dogecoin reached a few important milestones, including topping the leading crypto exchange’s stablecoin Binance USD (BUSD). 

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Moreover, today DOGE flipped the thriving Polygon (MATIC) blockchain. Ultimately, Dogecoin has been trapped in an ascending triangle for the past two months. However, the formed triangle is likely to break out soon, but in an unknown direction.

On the Flipside:

  • Twitter 2.0 is speculated to be closely linked to Dogecoin (DOGE), but recent developments show that other cryptocurrencies and digital payment methods could be used for the upcoming Twitter Wallet.
  • In Elon Musk’s recent message, the dog mascot behind DOGE, SHIB and other popular memecoins was deemed the new Twitter CEO. However, the picture in the message had the words “FLOKI” written on it.

Why You Should Care:

Dogecoin is the leading memecurrency. Memecoins often spark altcoin rallies and bring a significant amount of retail investors.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.