Dogecoin’s hot streak comes to an end as crypto integration plans are postponed and ex-Twitter employees file legal action.
Twitter is facing a class-action lawsuit over its plans to lay off 50% of its workforce following Elon Musk’s takeover of the social media platform.
Musk has authorised numerous changes across the board since taking over in an attempt to restore Twitter’s reputation as the internet’s “town square.”
A class-action lawsuit has been filed in federal court in San Francisco over a potential 3,700 reduction in headcount.
The complaint focuses on the lack of notice, which violates both federal and California state law.
Dogecoin is sinking
As word spread that Musk had completed the Twitter deal, the value of Dogecoin skyrocketed, rising 170% to a high of $0.15982 on November 1.
Since then, plans for crypto integration have been put on hold, and laid-off workers have pushed back, driving DOGE lower.
Following two consecutive daily red closes, the leading meme coin fell as low as $0.11519 on November 4, down 9% in the previous 24 hours.
As word spread that Musk had completed the Twitter deal, the value of Dogecoin skyrocketed, rising 170% to a high of $0.15982 on November 1.
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