Elon Musk’s X Corp Offers Settlement to Ex-Employees: What Does This Mean for Dogecoin?

Elon Musk is once again in the headlines, this time for X Corp’s efforts to address lawsuit related to severance pay disputes involving former Twitter employees. The crypto community is wondering if this will impact DOGE’s price in any way.

Addressing Past Grievances

After Elon Musk’s takeover of Twitter through X Corp, many employees found themselves without a job. They also claimed that they were not paid any severance pay. After almost a year of fighting for their rights, it seems that their voices are finally being heard. X Corp has offered to settle the lawsuit with a global payment.

Dogecoin’s September Woes

September hasn’t exactly been a month of celebration for the altcoin market so far. Dogecoin, the digital currency that usually has a dedicated following, wasn’t exempt from the mayhem. This sudden downturn pushed Dogecoin below a vital support level, ending its three-week rally. Current indicators suggest that the coin might be struggling for a while. Dogecoin’s 30-day moving average now trails behind its 200-day average, reflecting a potentially gloomy scenario.

Will Musk Throw a Lifeline?

Elon Musk has long been a supporter of Dogecoin, and his tweets have a history of moving the price. If Musk were to integrate Dogecoin into X as a means of payment, it could give the coin the boost it needs.

Related: Elon Musk’s Biography Indicates Plans for Dogecoin Development!

Cautious Optimism – The Way Forward?

Some experts believe that Dogecoin could recover to $0.070 within the next month. Others are more bullish, predicting that the coin could reach $0.080 by the end of the year. As of this writing, Dogecoin is trading at $0.0612.

Only time will tell whether Dogecoin can rise like a phoenix from its recent struggles. But one thing is for sure: Elon Musk is still the most important factor in the Dogecoin market.

Also Read: DOGE Price Analysis: Will DOGE Price Find Its Tail Under $0.050?

What is your outlook for Dogecoin in the coming months?