Algorithm Woes: A Shared Frustration Between Crypto Pioneer and Tech Mogul
Dogecoin's Creator Critiques X's Algorithm, Elon Musk Concurs
Billy Markus, the visionary behind Dogecoin, known online as Shibetoshi Nakamoto, recently voiced his profound dissatisfaction with the existing algorithm on the X platform. His candid critique garnered a surprising response from Elon Musk, who admitted to sharing similar sentiments.
The Battle Against Algorithmic Disconnect
Markus articulated his primary concern: the algorithm's failure to uphold the fundamental principle of social media—connecting users with the content from accounts they choose to follow. He argued that any algorithm that disrupts this implicit agreement is fundamentally flawed and proposed tracking the percentage of posts that successfully reach followers as a crucial metric.
Markus's Influence and Musk's Fading Support for DOGE
Markus's critique carries significant weight, given his role in co-founding Dogecoin in December 2013, establishing it as the original meme coin. Historically, Musk has been a vocal proponent of DOGE, with his tweets often sparking notable price surges. However, his active support for Dogecoin appears to have waned, coinciding with changes in X's algorithm that have reportedly diminished the organic reach of cryptocurrency-related content, much to the dismay of content creators.
Current Market Standing of Dogecoin
Dogecoin has experienced a modest recovery, showing a 1% increase from a recent low of approximately $0.085. Despite this uptick, the token remains under bearish pressure, with the Supertrend indicator at $0.11531 well above its current price, and the Parabolic SAR at $0.10343 further confirming a prevailing downward momentum. The price action has largely been contained within a descending channel since its peak at $0.31.
Crucial Support Levels and Path to Recovery for DOGE
Key support for Dogecoin is identified between $0.08 and $0.085, a zone where significant buying interest has previously emerged. A breach of this critical level could trigger further selling, potentially pushing the price towards $0.07 or lower due to limited structural support beneath. For a meaningful recovery, Dogecoin needs to reclaim the $0.10 mark, surpass the SAR, and then break above the Supertrend at $0.115.