Several weeks have passed since Tesla CEO and renowned billionaire Elon Musk acquired the enormous social media platform Twitter. During this time, many changes have occurred, and many are on the way. These changes have not been well received and have wreaked havoc on the once-thriving social media platform.
Many people and organisations have condemned the platform and Musk. This includes a long list of Twitter’s charity partners. There have been speculations that they will remove themselves from the platform as it no longer associates with their values. As Musk is an influential figure in the crypto world, coins like Dogecoin (DOGE) associated with him may also take a massive hit in his platform’s downfall.
Twitter may no longer have many charitable partners after all the controversial actions. Cryptos like Big Eyes Coin (BIG), which are part of many charitable endeavours, could be a better investment option over Dogecoin as it’s not associated with Twitter.
Musk’s Twitter Has Not Been Received Well – Could This Plummet Dogecoin?
SpaceX founder Elon Musk has been making many controversial changes to the social media platform Twitter since he acquired it. One of the many changes he has made is to the verification method. He has implemented a new blue tick verification system with a monthly subscription system beginning at $8.
The new system allows users to pretend to be anyone with a verified tick, easily spreading misinformation. Since the implementation of the new system, this has been seen all over the app. Many users are impersonating celebrities and spreading false information on social media platforms. With such a small price for verification, there has also been a rise in the number of scam businesses and individuals on the app, causing mass chaos and hurt.
Another significant controversial change made by Musk is the unblocking of many banned Twitter profiles. Profiles belonging to those who have spread hate speech, like Donald Trump, Andrew Tate and Kanye West, have all been unblocked.
These people are now free to begin spreading harmful things on Twitter again. Elon Musk’s unexpected decision to restore former President Donald Trump’s account is described as “dangerous and inconsistent” by the Anti-Defamation League (ADL). Furthermore, it claims that allowing Kayne West to rejoin Twitter has “raised concerns.” Other civil rights group partners, NAACP and ADColor, have also condemned these actions.
What does this mean for Musk’s beloved Dogecoin? The meme coin Dogecoin has long since been endorsed by Musk as his “fav cryptocurrency”. This association with the popular meme coin could lead to its downfall. When the deal first occurred, Dogecoin was affected in a positive way going up 160% in price. However, this means it is just as likely to be affected by Musk’s negative actions on Twitter too.
The Coin That Cares Big – Big Eyes Coin
Big Eyes Coin is an up-and-coming meme coin in the sixth stage of its pre-sale event. The coin has been amazingly successful so far and has already raised $10 million in a matter of weeks. The meme coin plans to make a change to the meme coin market. Firstly with its different approach to meme coins, using a cat mascot in a dog-dominated market.
Additionationally, the coin also wants to make a philanthropic difference. Big Eyes Coin’s mascot deeply loves fish and the ocean. Therefore, the coin will put 5% of its BIG tokens aside in a charity wallet for ocean-saving charities. It has already begun giving back and has donated $2k to the ocean clean-up and preservation charity Sea Shepperd.
Many of his charity partners have not received Elon Musk’s Twitter takeover well. This has caused questions about the platform’s future and the future of things associated with it, like Dogecoin, to arise. If you want to donate to a good cause, fellow meme coin Big Eyes Coin is making waves with its ocean-saving donations.
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Big Eyes Coin (BIG)
*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform.