Dogecoin (DOGE) plunges following the Musk-Zuckerberg Twitter feud!

The social network Twitter has been abuzz since Musk made a rather daring proposal to Zuckerberg. The Twitter boss has been determined to take jabs at his rival since the launch of Threads. Elon Musk’s comments have, however, had an impact on the price of his favorite memecoin. Dogecoin (DOGE) saw a gradual drop at the start of the day.

A growing rivalry since the launch of Threads

Mark Zuckerberg’s Meta has just launched Threads. Intended to compete with Twitter, it has already reached 100 million users. The rivalry between the two is bound to intensify. Indeed, Elon Musk didn’t mince his words when he called Zuckerberg a “cuckold” in a tweet. With a screenshot, he accused Zuckerberg of protecting brand speech instead of freedom of expression.

Elon: Protects free speech
Zuck: Protects brand speech https://t.co/qCsguIvjlT pic.twitter.com/WiA8dzVQLW

— ~~datahazard~~ (@fentasyl) July 9, 2023

He even went so far as to challenge the Facebook boss to a “highly inappropriate personal contest”, followed by the eggplant emoji. His comments left Internet users speechless. The Twitter community reacted with an avalanche of memes. Some users suggested including Bill Gates and George Soros in the competition. Mark Zuckerberg responded to Elon Musk’s remark on his Threads platform. Meanwhile, the price of DOGE underwent a gradual decline.

The gradual fall in Dogecoin’s price

While Threads is reaching new heights, the evolution of the Twitter boss’s favorite memecoin is quite different. Indeed, Dogecoin (DOGE) fell below the crucial $0.065 support level in the early hours of Monday. This came on the heels of Elon Musk’s bold proposal.

At the time of writing, DOGE is trading at $0.064716. The daily chart shows Dogecoin falling to a 24-hour low. It stabilized at $0.064106 at 3:21 am. DOGE has been trading in gradual consolidation for the past week. It has lost less than 5% of its value as the crypto market may be experiencing a correction phase after an explosive rise.