The Cease of the Elon Musk x Dogecoin (DOGE) Saga?

The Pause of the Elon Musk x Dogecoin (DOGE) Saga?

© Reuters. The Pause of the Elon Musk x Dogecoin (DOGE) Saga?
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  • Jane Manchun Wong no longer too long prior to now uncovered evidence that Elon Musk will almost definitely be on the cusp of rolling out a brand fresh Twitter “Coins” feature.
  • Despite his moniker of “The Dogefather,” Musk final tweeted about Dogecoin (DOGE) on December 25th, 2022.
  • Twitter Coins and their connected substances may maybe maybe maybe save Dogecoin on the sidelines.

After Musk obtained Twitter in October 2022, the social media platform has been rolling out fresh substances and updates on a extraordinary foundation, with various ranges of success. Even so, Musk has expressed his intent to continue constructing Twitter to enlarge the platform’s attain and engagement.

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Modern Twitter updates have viewed the value of DOGE rally. Unexcited, reports of the pattern of Twitter Coin may maybe maybe maybe undercover agent the pause of this prosperous relationship between Elon “The Dogefather” Musk and Dogecoin.

A Glorified Rewards Device?

In conjunction with gas to the rumors, Jane Manchun Wong no longer too long prior to now tweeted that Twitter will almost definitely be on the cusp of rolling out the fresh “Coins” feature.

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Twitter Coins will reportedly be bought with fiat currency by strategy of Stripe and may maybe maybe maybe no longer hang crypto in any construct. Initial leaks imply that the Coins will reward other customers for posting particular person tweets the usage of Twitter Coins, the same to the Reddit Award Device.

Brushing off a Prosperous History?

Elon Musk has a protracted history with Dogecoin. The Tesla (NASDAQ:TSLA) CEO first began stating DOGE in December 2020 when he tweeted:

“Dogecoin is the folks’s crypto”. Since then, Musk has been actively serious in regards to the promotion of the meme coin on Twitter. Dogecoin rose in value after Musk’s endorsements, seeing a 28% enlarge appropriate 24 hours after the news of his Twitter acquisition surfaced.

DOGE consistently rose as he made extra comments, to the level where something else Elon Musk tweeted resulted in the meme coin rallying, as viewed in the current unrelated Twitter updates.

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Dogecoin began as an internet silly story in 2013 however has develop into one of many most neatly-liked cryptocurrencies, with a height market capitalization of $88.8 billion as of Would possibly maybe well honest 2021. The meme coin fleet attracted an enthusiastic neighborhood, the improve of which propelled DOGE to lifeless ninth amongst cryptocurrencies by market capitalization, in step with CoinMarketCap.

Even even if speculation had been rife that Twitter would implement a DOGE price blueprint following Musk’s acquisition, the trends round Twitter Coin and its connected substances may maybe maybe maybe undercover agent Dogecoin moved to the sidelines.

On the Flipside

  • Crypto Twitter is asking ahead to the actual details of how the Twitter Coin system will work, as no apt statements were made.
  • Dogecoin founder Billy Markus remains obvious in regards to the reported roll-out of the fresh Twitter Coins feature.

Why You Must Care

While Twitter Coins may maybe maybe maybe be detrimental to Dogecoin, introducing a brand fresh cryptocurrency may maybe maybe maybe commence doorways to the licensed adoption of crypto.

Uncover more in regards to the Elon Musk x Dogecoin saga:

Dogecoin (DOGE) Grows 7% as Elon Musk Rolls Out Modern Twitter Parts

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