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Dogecoin Drops 2.88% as Elon Musk Replaces 'DOGE CEO' on Twitter With New One

Fri, 05/12/2023 - 10:03
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Yuri Molchan
Elon Musk's favorite crypto drops as techno billionaire hires 'human CEO' instead of his Shiba Inu dog
Dogecoin Drops 2.88% as Elon Musk Replaces 'DOGE CEO' on Twitter With New One
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Twitter boss and tech billionaire Elon Musk tweeted that he had finally hired a chief executive for his newly acquired social media giant.

Doge Floki is no longer in charge of Twitter, replaced by a human

In that tweet, Musk has again referred to Twitter as "X app" ("Everything app" as he explains this "X" title). The CEO, whose name Musk did not reveal but said that it is a woman, will be starting in approximately six weeks.

Musk's role in running Twitter will now be as executive chairman and chief technology officer (CTO). He will be overseeing the product, software and system operations.

The community began congratulating Musk on finding a CEO for the company by posting photos of him adjusted via FaceApp, showing the Twitter owner as a woman. Dogecoin co-founder Billy Markus was among those who sent congratulations to Musk.

The official account of Floki (FLOKI) meme coin asked him what will become of the "former CEO" — Musk's Shiba Inu puppy named Floki after a character from the popular "Vikings" TV series. The fact of Musk giving this name to a Shiba Inu puppy inspired developers to create FLOKI coin.

In December, Musk conducted a Twitter poll, where he asked the Twitter community whether they want him to step down as the CEO of the platform or not. Slightly more than 50% of respondents voted "yes." In total, more than 17.5 million took part in that poll. Musk decided to find out the opinion of the community after he faced severe criticism for several actions to do with banning accounts and links to other social media on Twitter, such as Mastodon.

Shytoshi Kusama Issues Major Warning to SHIB Community on Shibarium

Dogecoin price goes down

Initially, Musk announced that his "doge" would be the head of Twitter. That pushed the DOGE price higher and provoked a hilarious reaction from the community.

However, now that a "real," "human" CEO has been found instead of Musk to run Twitter, the price of the meme coin took a dip, falling by nearly 3% within the past 24 hours, according to data provided by CoinMarketCap.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at