Dogecoin trader explains why shorting DOGE now makes sense
Dogecoin (DOGE) has surged nearly 100% quarter-to-date (QTD) on hopes that Elon Musk would integrate the token onto the Twitter platform. However, DOGE’s potential to continue its uptrend in the coming weeks is low, one popular market analyst argues. Short Dogecoin hard? Independent market analyst GCR said he is moderately short on DOGE based on its price’s recent reaction to a Musk tweet. Notably, DOGE formed a local top at $0.158 on Nov. 1. The same day, Musk shared a picture of his pet Shiba Inu wearing a t-shirt with the Twitter logo. pic.twitter.com/eaIYaDRBnu — Elon Musk (@elonmusk) November 1, 2022 GCR argues that the Musk-effect is wearing off when it comes to Dogecoin’s potential integration into Twitter, meaning that most of the gains are already priced in....
Twitter Layoffs Begin as New Owner Elon Musk Complains of Ad Revenue Drop
Employees braced for widespread layoffs at Twitter Friday as new owner Elon Musk overhauls the social platform. In a letter to employees obtained by multiple media outlets, the company said employees would find out by 9 a.m. PDT (noon EDT) if they had been laid off. The email did not say how many people would lose their jobs. Some employees tweeted early Friday that they had already lost access to their work accounts. They and others tweeted messages of support using the hashtag #OneTeam. The email to staff said job reductions were “necessary to ensure the company’s success moving forward.” Twitter’s roughly 7,500 employees have been expecting layoffs since Musk took the helm of the company. Already, the billionaire Tesla CEO has fired top executives, including CEO Parag Agrawal, on his fi...
BNB Chain cools off after 24% surge, but strong fundamentals could back the next BNB rally
After an impressive 23.7% rally between Oct. 25 and Oct. 31, Binance’s BNB (BNB) coin has faced a strong rejection from the $330 resistance. Is it possible that the two-day 6% sell-off from the $337.80 peak could indicate that further trouble is ahead? Let’s take a look at what the data shows. BNB 12-hour chart on Binance, USD. Source: TradingView Analysts pinned the recent rally to the Oct. 28 news that Binance invested $500 million in Twitter. However, the network’s deposits and decentralized application (DApp) metrics have not accompanied the improvement in sentiment. The strong upward movement was largely based on reports that Binance was preparing to assist Twitter in eradicating bots. The speculation emerged after billionaire Elon Musk raised the $44 billion required to complete...
N-Word Use Rises On Twitter Since Phony Starks AKA Elon Musk Took Over
HipHopWired Featured Video Source: CONSTANZA HEVIA / Getty Hate speech and racist language aren’t new on Twitter but an uptick in the use of the N-Word slur was noticed in the days after Elon Musk took over ownership of the social media network. According to reports, the use of the slur is part of a trolling campaign meant to test the limits of free speech on the platform. The Twitter takeover by Musk was celebrated by many on the extreme right who feel that censorship on Twitter has overreached as it relates to the right to freedom of speech. The N-Word, and by N-Word we mean the hard “r” version, has often been used on the service often by trolls too fearful and witless to do so under real user profiles. Yoel Roth, Head of Safety & Integrity at Twitter, posted a thread over the weeke...
I’m the captain now: Musk chops Twitter board, becomes sole director
Crypto-friendly billionaire Elon Musk has become the sole director of Twitter, following the dissolution of nine former board members, according to newly filed documents. In an SEC filing dated Oct. 27, the “consummation” of Musk’s takeover of Twitter came with the dissolution of Twitter’s board members, including Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li and Mimi Alemayehou. “On October 27, 2022, and as a result of the consummation of the Merger, Mr. Musk became the sole director of Twitter,” the filing reads. The Tesla CEO later tweeted in a response to a Twitter user that the arrangement was “just temporary.” Previously, Musk has said the platform under his ownership will focus on free speech, eli...
Elon Musk Wants to Bring Vine Back: Report
Elon Musk continues to move fast since officially taking over Twitter, and his latest move is resurrecting Vine. According to a report from Axios, Musk has tasked engineers to focus on a reboot of the once-popular video sharing app that could be ready by the end of 2022. According to Axios, engineers have found Vine’s old code base “needs a lot of work” after not being changed or updated since it was formally shut down by Twitter in 2016. When Vine was active, it became the most-downloaded free app in the iOS App Store. Vine also helped launch the careers of artists like Shawn Mendes, Ruth B, and producer Jay Versace, as well as notorious social media personality Logan Paul. The ByteDance-owned app TikTok has stepped into the void left behind by Vine. In September 2021, TikTok announced it...
Chief Twit Elon Musk Is Pushing For Twitter To Charge For Verification, Users Think That’s A Bad Idea
HipHopWired Featured Video CLOSE Source: NurPhoto / Getty Elon Musk, aka Phony Stark, aka “Chief Twit,” is on a mission to ruin Twitter, and so far, he’s doing a pretty good damn job. The Musk era at Twitter has officially begun, and it’s already a clusterf*** thanks to some critical firings, the rise of N-Word usage, the return of problematic Twitter users, and one decision that has Twitter users already scratching their heads. The Verge reports that Elon Musk has told his company to find a way to implement a way to start charging people to have the highly-coveted blue verification check next to their names. The Tesla chief has given the Twitter team to get the plan up and running by Nov. 7, or Musk will fire them. Per The Verge: The directive is to change Twitter Blue, the company’s opti...
Elon Musk’s First Grand Plan for Twitter? Charging $20 Per Month for a Blue Checkmark
It’s day three of Elon Musk’s reign over Twitter, and beyond seeing an influx of racists tweeting, one big development is Musk’s plan for verification. According to The Verge, Twitter will soon start charging users as much as $19.99 per month for that little blue check mark. Under the proposed plan, Twitter will make verification one of the core features of its premium subscription service, Twitter Blue. Current Twitter Blue subscribers pay $4.99 per month for features like an edit button, a custom reader mode, bookmarks, and more. Musk will reportedly triple the price with the added carrot of giving unverified users the opportunity of adding a blue checkmark next to their handles. Advertisement Related Video Existing verified users would have 90 days to subscribe to Twitter Blue or lose t...
Use of N-Word Jumps 500% After Elon Musk Buys Twitter
Self-proclaimed “free speech absolutist” Elon Musk officially bought Twitter on October 27th, and in the hours following the deal, a slew of bigoted troll accounts appeared to test the limits of his moderation policies. According to The Washington Post, in the 12 hours after Musk acquired Twitter, use of the N-word surged 500%. “Elon now controls twitter. Unleash the racial slurs. K—S AND N—–S,” one account said, using slurs for Jewish and Black people. “I can freely express how much I hate n—–s … now, thank you elon,” another said. One account, created this month, used a swastika as its profile picture and tweeted antisemitic memes alongside retweeting posts from Musk. Much of this hate speech was organized on platforms like 4chan, said the Network Contagion Research Institute, which anal...
BNB jumps to new BTC all-time high as Elon Musk’s Twitter fuels DOGE bulls
BNB (formerly known as Binance Coin) has hit new all-time highs against Bitcoin (BTC) as excitement grows over the cryptocurrency’s future role on Twitter. BNB/BTC 1-month candle chart (Binance). Source: TradingView BNB sets new record against BTC Data from Cointelegraph Markets Pro and TradingView confirms that BNB/BTC briefly spiked above 0.15 BTC to a record 0.15267 BTC on Oct. 30. BNB, the in-house token of Binance, the largest crypto exchange by volume, has gained around 10% in the past 72 hours. The strong performance came on the back of reports that Binance was preparing to assist Twitter in eradicating bots as part of its new direction under Elon Musk. Binance had contributed $500 million to Musk’s takeover of the social media platform. “Our intern says we wired the $500 ...
Dogecoin price rallies 150% in 4 days, but DOGE now most ‘overbought’ since April 2021
The Dogecoin (DOGE) price rally extended further on Oct. 29 in hopes that the cryptocurrency would get a major boost from Elon Musk’s Twitter acquisition. Elon Musk boosts Dogecoin price again Dogecoin price jumped by nearly 75% to reach $0.146 on Oct. 29, the biggest daily gain since April 2021. DOGE/USD daily price chart. Source: TradingView Notably, the meme-coin’s massive intraday rally came as a part of a broader uptrend that started earlier this week on Oct. 25. In total, DOGE’s price gained 150% during the Oct. 25-29 price rally. The surge was also accompanied by a decent increase in its daily trading volumes. That coincided with a spike in the number of DOGE transactions exceeding $100,000, according to Santiment. Both indicators sugges a growing demand for Dogeco...
Binance may form a team to support Twitter’s blockchain efforts
According to reports on Oct. 28, crypto exchange Binance intends to create a team to work on crypto and blockchain solutions for Twitter, following the acquisition of the social media company by tech billionaire Elon Musk. The development came hours after Binance’s founder and CEO, Changpeng “CZ” Zhao, confirmed that the company had backed Musk with $500 million in financing, making the crypto exchange the fourth-biggest contributor to the takeover amid 19 investors that provided $7 billion to Tesla’s founder. On Twitter, CZ confirmed that the money was wired earlier this week and clarified that the transaction was performed through traditional banking services using fiat currency, not via cryptocurrencies or blockchain protocols. In May 2022, the crypto exchange had in...
