Dogecoin Dips After Elon Musk’s Tweet, But Crypto Market Shows Promise

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• Elon Musk asked a question on Twitter on Monday, and it received over 17.5 million responses.
• Dogecoin’s (DOGE) price fell after the announcement, reaching a low of $0.07003 on December 19.
• The privacy-based Mimblewimble Extension Blocks (MWEB) upgrade for Litecoin (LTC) has been its biggest upgrade this year, while Snowfall Protocol (SNW) is performing very well in presale stage 3.

On Monday, Elon Musk asked a question on Twitter, and it sparked a massive response with over 17.5 million responses. The billionaire asked whether he should resign as CEO of the social networking firm. 57.7% of voters would like him to leave his position, according to the final results, while 42.5% do not. After the announcement, the value of Dogecoin (DOGE) started to decline.

Dogecoin (DOGE) reached a market high of $0.11172 on December 5; however, since that point, growing sell pressure has led to a 37% decline, which reached a low of $0.07003 on December 19. The current Dogecoin (DOGE) price is $0.07, with a $484 million 24-hour trading volume. In the past 24 hours, Dogecoin (DOGE) is down 4.29%.

On the other hand, Litecoin (LTC) got an upgrade this year with the privacy-based Mimblewimble Extension Blocks (MWEB). This upgrade was completed in May 2022 and increased the currency’s possibility of becoming the preferred payment method for private transactions. This is the biggest upgrade the currency has had this year and has been a major factor in its success.

Snowfall Protocol (SNW) is also performing very well in presale stage 3. The project is a decentralized data marketplace that enables its users to monetize their data. The protocol also offers a privacy-preserving layer that ensures data is kept secure and cannot be shared without the user’s consent. The project has raised over $20 million in its presale, making it one of the most successful presale launches of the year.

Overall, the crypto market is seeing a lot of movement and the future looks promising for the industry. Dogecoin (DOGE) has seen a significant price dip since Elon Musk’s announcement, but it is still up significantly from the beginning of the year. Litecoin (LTC) continues to benefit from its MWEB upgrade, while Snowfall Protocol (SNW) is experiencing a successful presale stage 3. As the industry continues to evolve, the future looks bright for digital currencies.

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