All eyes in the Dogecoin community are now on Elon Musk. Lovers of Dogecoin are quite expectant that Dogecoin will be rewarded in due time, as Twitter rolls out a new feature.

Part of the revenue that is generated from Twitter advertisements will soon be made available to creditors according to Elon Musk’s tweet.

“Starting today, Twitter will share ad revenue with creators for ads that appear in their reply threads.” Elon Musk wrote in a tweet that has sent Twitter users over the moon. No further information has been shared so far, but creators are looking forward to Elon Musk and the Twitter team disclosing what the exact amount will be.

It’s important to keep in mind that accessibility is limited and exclusive to a select few. “To be eligible, the account must be a subscriber to Twitter Blue Verified,” Slon Musk said in another tweet.

Elon Musk has also clarified what Twitter users should expect from Twitter blue. Raising concerns about the dangers that could arise from the new development, one Twitter user asked Elon Musk about what happens to accounts that were verified before, then later signed up for Twitter blue, and later unsubscribed.

Elon Musk who seems to think that Twitter blue cannot be trusted responded to the comment. He’s quoted saying that “Twitter’s legacy Blue Verified is unfortunately deeply corrupted, so will sunset in a few months”

Dogecoin lovers maintain excitement for the weeks ahead, hoping that Twitter will eventually adopt Doge

There’s been a collective expression of positivity from a lot of users since Musk made the tweet. The tweet from Musk has elicited several responses from big names.

The likes of  Mr. Beast and other big personalities are responding positively. Lex Friedman, a well-known crypto podcast host is hopeful too. He anticipates that more important content and less drama will follow as a result.

Creators are looking forward to the possible advantage that the new model will bring to all Twitter users. For the crypto ecosystem, this is another signal that crypto is on its way to Twitter. Once payment begins to go out to Twitter creators, fiat and other cryptocurrencies, as Elon Musk had mentioned in the past, will be added to Twitter.

With Elon Musk being a known Dogecoin lover, the Dogecoin community is understandably eager to know when Doge finally becomes a payment option on Twitter.

Der Beitrag Community awaits Elon Musk to push Dogecoin again as Twitter launches new ad share model erschien zuerst auf Crypto News Flash.

Since the acquisition of Twitter by the social media-savvy billionaire, Elon Musk, there have been claims that the microblogging site is on track to pivot into digital payments. In recent times, the California-based company has reportedly set up a new team to develop the product, and cryptocurrencies are tipped to feature as an integral part of the payment system.

Considering the fondness Musk has for the most popular memecoin Dogecoin (DOGE), there are insinuations that the digital currency will take a frontline role in the new Twitter feature. Herein lies the dilemma as a pro-crypto lawyer, John Deaton pointed out the likelihood of the company getting into the crosshairs of US regulators.

Taking to Twitter, Deaton created a hypothetical scenario whereby Twitter eventually secures the approval to offer crypto payments and allowed only Dogecoin. According to the vocal lawyer, this move can notably push the United States Securities and Exchange Commission (SEC) to come after the firm as it might tag DOGE tokens as securities.

The SEC is known to be quite erratic in how it files lawsuits against players in the digital currency ecosystem. The regulator has been in a legal brawl with blockchain payments firm, Ripple Labs Inc since December 2020. The lawsuit was filed at the time when the former SEC Chairman Jay Clayton was preparing to make his exit from the commission.

The SEC claimed at the time that Ripple sold XRP coins as unregistered securities and raked in about $1.3 billion in sales at the time.  As the case has evolved over the years, many are now tipping the blockchain payments firm to win the regulator considering the merits of the firm’s arguments.

Dogecoin: Will Twitter face the same plight as Ripple?

Considering Elon Musk’s history with the SEC, there is a likelihood that the billionaire investor will do all he can to prevent an additional Dogecoin (DOGE) fueled brawl with the new Twitter company.

It is worth noting that there are reports the social media platform is losing ad revenue. Notably, it was claimed that the firm’s biggest advertisers pulled out citing the misdirection of the firm’s new content moderation policies. The attempt to diversify its revenue generation models accounts for one of the reasons why Twitter is pivoting into the digital payments sector.

Based on this, the chances that the firm will rile the regulator by singling out DOGE as the only supported crypto in its payment push is somewhat unlikely. Dogecoin has goodwill in the broader Web3.0 ecosystem and has wide acceptability amongst millions of users. 

The coin’s use case is generally tagged as a payment utility, supporting it alongside Bitcoin (BTC) and Ethereum (ETH) will strengthen its chances of not crossing regulators’ crosshairs.

Der Beitrag Could Dogecoin become a security if Elon Musk integrates Twitter as a native currency? Lawyer weighs in erschien zuerst auf Crypto News Flash.

Elon Musk, the Chief Executive Officer (CEO) of American electric vehicle giant, Tesla and the new owner of the micro-blogging site, Twitter Inc has announced a new Twitter Blue subscription, a move that may have an undertone for the crypto industry’s first memecoin, Dogecoin (DOGE).

Also, there will be a higher priced subscription that allows zero ads

— Elon Musk (@elonmusk) January 21, 2023

Since Elon Musk took over the ownership of the social media platform, he has introduced a number of initiatives that many proponents of the memecoin believe may turn out to fuel the growth of the coin. According to a tweet shared by Musk on Saturday, the subscription to Twitter Blue may be increased over time and will contain zero ads.

This will go a long way to cushion the dwindling ad revenue on the social media platform that has recorded an exodus of advertisers since Musk took over. The Twitter Blue subscription currently costs $8 per month and in a bid to bypass the charges usually imposed by the duo of Apple and Google for payments made through their App Stores, Twitter charges an extra $3 for the monthly subscription.

How Dogecoin can benefit in the long run

Elon Musk is undoubtedly the biggest supporter of Dogecoin, and it has been very obvious with a series of tweets and jingles to help prop up the price of the cryptocurrency. With plans to change the entire revenue stream of the social media platform, the idea is that the firm will soon incorporate Dogecoin into its payment rails so that the interested subscribers who own the memecoin can make payments through it.

Dogecoin was designed as a payment token but in its earliest days, its utility was limited to its use as a tipping coin for Twitter or other social media creators. Over the past few years, Dogecoin has increased in its overall relevance with a number of high-profile investors now supporting its accumulation.

Many more firms and establishments including Mark Cuban’s Dallas Mavericks accept payment for tickets and merchandise in DOGE. Before acquiring Twitter, Elon Musk also ensured that the memecoin is accepted as payment for Tesla products and also billed for embrace by Starlink, further helping to establish the foothold of the coin as a viable payment token.

Unlike Bitcoin (BTC) and even Ethereum (ETH) serves the same purpose, however, transactions conducted in DOGE take a relatively smaller gas fee when compared to the latter. With the plans to introduce a higher subscription for Twitter Blue, DOGE is on track to benefit immensely when it is finally pitched as a payment option.

How price might react

While Dogecoin may be underperforming at the moment when compared to other popular memecoins like Shiba Inu (SHIB) and Bonk (BONK), it has relatively decent volatility that has kept its community relatively well knitted together.

At the time of writing, DOGE is changing hands at $0.08905, up 3.43 percent over the past 24 hours and by 5.79 percent over the trailing 7-day period. Judging by its previous momentous price leaps, the coin will have a massive upshoot whenever Elon Musk gets to announce its integration as payment for the platform.

Der Beitrag Dogecoin-Fan Elon Musk announces new Twitter feature – Can it drive DOGE price? erschien zuerst auf Crypto News Flash.

The market is brimming with promise with many analysts calling the end of the bear market and the beginning of the bull run. Already, a majority of coins led by Bitcoin and Ethereum have marked a new year high. For Bitcoin (BTC), the digital asset reached a year high of $21,000 over the weekend. Ethereum (ETH) on the other hand climbed above $1,500. Not only has altcoins followed in the same suit, but have continued in their work to build and engage in strategic partnerships for the future. In our weekly brief, we take a look at some of the most notable developments from the past week.

BTC and ETH Rally

Bitcoin and Ethereum made headlines throughout the week as they turned bullish. After gaining more than 20 percent in the last 7 days, Bitcoin closes the week trading close $21,000. The crypto king is still facing some resistance at this level. With investors cautiously optimistic, they are looking unto $25,000 as the next test…Read More

#Bitcoin price is back to the pre-"FTX" levels.

Decentralized technologies are extremely resilient.

— CZ 🔶 Binance (@cz_binance) January 15, 2023

Ethereum, the second-largest cryptocurrency, has also marked a new high for the year. Like Bitcoin, Ethereum has added more than 20 percent in the last seven days, pushing its price above $1,500. The largest altcoin is now primed for a push to $1,700. Interestingly, during the week MetaMask wallet launched staking for users using Lido and Rocket pool staking services…Read More

Samsung launches Bitcoin Futures ETF

In part, Bitcoin gains came off the news that industry giant Samsung is launching a Bitcoin futures ETF. The Samsung Bitcoin Futures Active ETF will be listed on the Chicago Mercantile Exchange (CME) for interested traders.

Bitcoin futures remain the most favorable means for institutional investors to get involved in the crypto market. As such, the entrance of the South Korean tech giant is a huge boost to the crypto market, not only in the Asian market but also globally…Read More

VeChain joins forces to build scalable metaverse

The Vechain network has marked a key development in the fast-rising metaverse space. The Vechain ecosystem is joining forces with several companies including  L’Oréal’s venture capital fund BOLD and the British Fashion Council that have come together to develop a metaverse ecosystem. BOLD, Venture Reality Fund Venrex and the British Fashion Council among others have raised $4 million in a funding round for a French metaverse developer dubbed Digital Village.

"L’Oréal and the BFC invested $4M in French metaverse developer, Digital Village." 🤝

DV is building a scalable, #sustainable and collectively prosperous #metaverse with #VeChain. ⛓️@LOrealGroupe @BFC @evelynxmora @vechainofficial @digitalvillage0https://t.co/RkPQ9V9cza

— eisenreich (@eisenreich) January 12, 2023

VeChain network anticipates growing exponentially in the future with the development of Digital Village for retail purposes…Read More

Der Beitrag CNF Weekly Brief: 5 things to note from last week- Shiba Inu, Samsung Bitcoin ETF, Vechain and Elon Musk erschien zuerst auf Crypto News Flash.

Up till around June 2022, the Dogecoin ecosystem remained confident about DOGE’s price reaching the $1 level before December 2022. Their confidence further rose when Matt Wallace, a popular Dogecoin influencer, forecasted that DOGE would trade at $1 by the end of 2022.

He was so confident in his prediction that he revealed to the popular news outlet Watcher Guru in an exclusive interview that if DOGE doesn’t trade at $1 by December 2022, he will delete his YouTube account.

I am so confident #Dogecoin will pass $1 by the end of the year, that I will delete my YouTube channel if it does not.

— Matt Wallace (@MattWallace888) June 15, 2022

However, it’s now January 2023, and DOGE has yet to trade at $1. Instead, it currently trades at $0.07, according to to our data. In addition, it is nearly 90.5 percent off its peak price of $0.73, which it set in May 2021. Many members of the Dogecoin community hope that Elon Musk’s DOGE-1 mission might push DOGE’s price to $0.5. However, time will tell whether DOGE will trade at $0.5 after Musk’s DOGE-1 mission.

No launch date yet

Unfortunately, Elon Musk hasn’t shared any possible date of when the launch will likely happen. Also, the SpaceX team has yet to release any official statement regarding the launch. The only hint of a possible launch date has been from Dogecoin’s UI/UX designer, who recently tweeted that the space mission launch should happen on or before March 2023.

He added that the mission would be the first space mission with full funding through any digital currency. If his words were true, the space launch should happen in the next 100 days or less than three months from today. Nevertheless, there is still no official statement from SpaceX to confirm or deny the date.

DOGE-1 Mission will launch no earlier than March 2023, as confirmed by @SamuelReidGEC @GeometricEnergy @YourTimeInSpace

This mission is completely funded by Dogecoin, thus becoming the first space mission funded by a cryptocurrency. pic.twitter.com/cMWk0yL9lF

— DogeDesigner (@cb_doge) December 31, 2022

DOGE’s price prediction after space mission launch

However, the real question is, what happens to DOGE’s price after the space mission launch? While it is likely that DOGE’s price will rise following the launch, it is unlikely to hit the $0.5 price mark as the hype surrounding this digital asset has reduced significantly worldwide. Furthermore, analysts predict that the global financial market downturn will continue this year. Hence, the prices of cryptos and stocks will continue to decline.

Hence, it is unlikely that DOGE’s price will trade at $0.5, even though there is no doubt that the space-1 mission launch will be a topic of hot debate in the crypto space. Even though it crossed the $0.5 price level during its famed bullish run in 2021, most DOGE investors are currently in debt, as each of their Dogecoins is worth less than $0.1.

DOGE can only trade at $0.5 if it surges by 835 percent after the space mission launch. However, the ongoing crypto bear market makes this projection an unlikely possibility. Nonetheless, the Dogecoin community can hope that other project developments related to Dogecoin can cause a rise in the value of the network’s native currency.

Der Beitrag Dogecoin: Will DOGE reach $0.50 after the space mission is launched by Elon Musk? Report erschien zuerst auf Crypto News Flash.

Cardano co-founder, Charles Hoskinson, and co-founder of Ethereum, Vitalik Buterin, have both weighed in on Twitter’s search for a new CEO.

Elon Musk stated earlier that he would be stepping down as the CEO of Twitter once he finds a replacement. He announced this after Twitter users voted overwhelmingly in favor of having him step aside from the role.

Read more: Elon Musk resigns as Twitter CEO – Will it pump Dogecoin price to $0,20?

In response to Musk’s announcement, Vitalik Buterin makes clear that he is expectant, and that he would love to see who would emerge as Twitter’s new CEO.

Looking forward to seeing who the next CEO is going to be! https://t.co/bQUoen1VNx

— vitalik.eth (@VitalikButerin) December 23, 2022

However, he admonished Musk to not “rush the decision too much” while respecting the choice of Twitter users. Buterin added that from his “painful personal experience,” overly hasty executive searches can lead to ruinous results.

The remark drew a response from  Cardano’s CEO Hoskinson. The IOG CEO stated that Buterin’s comment is funny to him as he thought the same thing.

That's funny, thought the same thing

— Charles Hoskinson (@IOHK_Charles) December 23, 2022

Hoskinson’s comment is likely a subliminal jab at Buterin with whom he shares a controversial relationship. For one, Hoskinson has been a proponent of Cardano’s mantra of taking things slow and steady. This is in contrast to sentiments that Buterin has shared about building more practical albeit imperfect solutions to achieve more at a faster rate.

Similarly, Hoskinson was a co-founder of Ethereum and was briefly its CEO. Misunderstandings between the two about the direction that Ethereum should develop led to them parting ways as Buterin told Times earlier this year. This could also be the “painful personal experience” Buterin is referring to that has drawn Hoskinson’s comment.

Could either of the crypto leaders become Twitter’s new CEO?

Hoskinson has often highlighted the differing philosophies between Cardano and Ethereum. Hoskinson recently compared Ethereum to Hotel California and The Shining for its compliance with censorship enforcement stipulated by OFAC. He also opined that there are several flaws in Ethereum’s recent migration to proof-of-stake.

Meanwhile, despite their addition to the search on who the new CEO of Twitter should be, neither of the crypto personalities has offered themselves to take the role. Similarly, Twitter may not radically shed Musk’s influence after he steps down as CEO. The billionaire says that he will continue to lead Twitter’s software and servers team.

Musk’s stint as Twitter CEO has seen the platform introduce a number of changes both on the micro-blogging platform and as an enterprise. This has raised hopes in the crypto space that cryptocurrencies may eventually come to play a more significant role on Twitter.

Der Beitrag Cardano’s Charles Hoskinson or Ethereum’s Vitalik Buterin for new Twitter CEO? Elon Musk should take enough time erschien zuerst auf Crypto News Flash.

Twitter owner Elon Musk has reached a decision to step down as the chief executive of the social media company. The move could have a marked impact on the price of Dogecoin (DOGE).

The billionaire stated in a tweet that he will step down and only run the software and server teams of the platform. However, this will only be after he finds someone to take on the CEO role.

His decision came after Twitter users voted for him to step down as Twitter CEO. Exactly 57 percent of over 17 million participants in a poll Musk carried out to help him decide voted yes to have him step down as Twitter CEO.

I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams.

— Elon Musk (@elonmusk) December 21, 2022

The price of Dogecoin (DOGE) has reacted to Musk’s announcement, in a way. The memecoin, which is very responsive to Musk’s actions, has plunged 1.58 percent in the last 24 hours, changing hands at $0.073 at press time.

Before now, the DOGE community was rife with speculations that the cryptocurrency project would get integrated as the native crypto of Twitter. With Musk’s influence at the helm, the community anticipated that Twitter’s move to make payments a core part of its operations would involve DOGE. DOGE supporters also expected Twitter to accept DOGE payments for Twitter Blue subscriptions.

Musk’s latest decision may see these hopes shelved. But they may not be completely dispelled as Musk will still play a key role at Twitter as head of the software and servers teams.

Also Read| Elon Musk to be replaced by Edward Snowden as Twitter CEO with a salary in Bitcoin – Will Dogecoin fall?

Musk’s reign at Twitter continues to be controversial.

Musk has owned Twitter for close to two months after completing its purchase in November. During that time, his impact on the platform has been massive and highly controversial.

He started his management by letting go of thousands of Twitter employees that could not meet his strict ultimatums. Musk has also introduced changes around content moderation and user verification that have been the talk of both his critics and supporters on the platform.

Musk introduced $8 payments for subscriptions to Twitter Blue. However, the product which gives subscribers a Blue verification check mark was suspended after it fuelled a spree of impersonation that caused real-world damages in some cases.

Read more| IOTA can help solve blue verification badge issue from Twitter for millions of people

Similarly controversial is his revisiting of the Hunter Biden “Twitter files” saga. Under Musk, Twitter has been releasing the files of the case which were suppressed back in 2020.

Der Beitrag Elon Musk resigns as Twitter CEO – Will it pump Dogecoin price to $0,20? erschien zuerst auf Crypto News Flash.

After acquiring Twitter following a long-drawn process, the CEO of Tesla, Elon Musk, recently hinted at breaking PayPal’s domination in the digital payment ecosystem. The billionaire is working on a payment solution to rival all of PayPal’s features. In a Tweet response, the tech entrepreneur hinted at a possible payment solution that the microblogging site is considering.

The man who reinvented the payment system back in 1999 is all set to do it again. @elonmusk pic.twitter.com/DvF3jmRHVa

— DogeDesigner (@cb_doge) December 13, 2022

Accordingly, the new Twitter owner noted that users could send and receive money on social media once completed. However, the new move would involve using conventional banks, as users will have to transfer the funds to confirmed accounts. In addition, the new system will come with a high-yield money market account to incentivize users to deposit their funds with Twitter.

According to Musk, the updated blue tick subscription is designed to support the creator ecosystem, as the paid verification would signal the development of a payment system on Twitter. With the paid verification mechanism, the billionaire noted that payments on Twitter would be secure and devoid of fraud. In addition, Twitter Blue users are required to sign up for a credit or debit card if they have none.

When completed, the platform will process their payments through the in-app purchase system, which will reflect on their balances. Furthermore, the Twitter owner discussed the scalability of the new payment system by describing how users could transfer their cash at any given time. Twitter could also make a small donation to account holders to prompt them to make further deposits and transfers.

Related: Dogecoin will become currency of Twitter and the ‘X-App’ – Turkey is convinced

Speaking about PayPal, Musk described the digital payment platform as a “Black Magic” enterprise, which he likened to the British television program “Black Mirror.” The Tesla owner stated that PayPal typifies a dystopian entity with its rigid control over how users utilize its platform. Interestingly, Musk was not alone in his assessment of PayPal, as other former executives criticized the payment form for its discrediting actions.

One of the former executives of PayPal regarded the increasing freezing of funds as totalitarian. PayPal has been under the spotlight recently after its controversial introduction of a $2,500 fine in October. The penalty, according to the payment company, is targeted at users who share risky contents that promote misinformation to other users.

Will DOGE become the new Twitter token?

Elon Musk’s Twitter acquisition sparked an uptrend in the price of the digital meme currency, Dogecoin, as many predict that the token will play a critical role in his new company. As the most visible and vocal supporter of the canine cryptocurrency, Musk holds the key to Dogecoin’s revival, which has continued to lag behind its rival, Shiba Inu.

However, the new move to integrate payment solutions into Twitter has generated heightened expectations in the Dogecoin community. With a new payment plan to rival PayPal, Musk can pull another magic ace up his sleeve and make Dogecoin its native token.

Der Beitrag Elon Musk to build payment app to compete with PayPal – Will Dogecoin be the native currency? erschien zuerst auf Crypto News Flash.

Twitter CEO Elon Musk has warned staff not to share confidential information with the media or other public platforms. In addition to making this a rule, Musk has threatened to bring legal action against any staff who defaults.

In an email to employees, Twitter’s ‘Chief Twit’ said that sharing private information is a clear violation of the Non-Disclosure Agreement (NDA) employees signed upon employment. According to reports, Musk’s email states that he believes doing this is against the company’s best interest. The CEO reportedly gave staff until 5 pm on Saturday to respond that they understand the rule. It is assumed that Musk might fire anyone who doesn’t provide their pledge in a reply. According to the email as reported by Journalist Zoë Schiffer:

“This will be said only once: If you clearly and deliberately violate the NDA that you signed when you joined, you accept liability to the full extent of the law & Twitter will immediately seek damages.”

The recent occurrence is the second ultimatum Musk is issuing to staff since taking over affairs. Last month, the CEO asked staff to either become “extremely hardcore” as part of the “new Twitter,” or leave the company. Musk had also added that staying at “Twitter 2.0” will involve “working long hours at high intensity” to deliver “exceptional” performance. Following the ultimatum, hundreds of employees willingly chose to leave with severance pay.

Will Musk’s New Rule Affect DOGE?

Perhaps one of the information leaks that informed Musk’s recent ultimatum is news about the Twitter Coin. According to researchers on Twitter, Musk’s team is designing a Twitter Coin to be used for payments and tips on the platform. The news also set conversations about Dogecoin (DOGE) in motion, focusing on whether or not Twitter Coin would rival DOGE. In some quarters, enthusiasts considered that the Twitter Coin would turn out to be another name for DOGE.

Whether or not the Twitter Coin is DOGE, keeping the lid tightly shut could swing either way for DOGE. For instance, the initial rumor about a Twitter Coin was bearish for DOGE as the meme coin fell by 14%. Since then, DOGE has struggled to climb the $0.1 mark. This suggests that news about a DOGE rival, whether confirmed or not, might cause further plunges in DOGE’s value.

According to screenshots from researchers who leaked the Twitter Coin, Twitter will likely announce support for multiple assets. If there are no more leaks until official support for Twitter Coin and DOGE, prices could pump to its all-time high or higher. However, whether or not any more news leaks, an eventual launch for Twitter Coin and not DOGE could be extremely bearish for the dog-themed crypto.

Der Beitrag DOGE: Elon Musk warns employees to disclose sensitive information – Can it pump Dogecoin price? erschien zuerst auf Crypto News Flash.

Elon Musk may be working on a new cryptocurrency to rival Dogecoin (DOGE) and Bitcoin (BTC) at least on Twitter. According to tech news on social media, there are rumors that the Twitter team is developing a ‘Twitter Coin’ for payments and tips on the social media platform.

Nima Owji, a Twitter account that posts unreleased details about upcoming tech features from tech companies, posted a tweet with the caption, “Twitter is working on Coins!” The tweet also included two images showing an option to use coins for Twitter’s “Tips” feature. In a follow-up tweet, the account posted an image of the proposed Twitter Coin. 

Tweets by nima_owji

#Twitter is working on Coins! pic.twitter.com/67upjUn37D

— Nima Owji (@nima_owji) December 3, 2022

Another account that leaks tech features also posted information that corroborates Owji’s post. Blogger and researcher Jane Manchun Wong posted similar tweets but deleted her account shortly after, only to reactivate it later. Speaking to The Block, Wong confirmed that “there is little information out there as to what this is exactly.” 

Neither Twitter nor ‘Chief Twit’ Elon Musk has confirmed the rumors about a Twitter Coin. Regardless, Musk is a well-known crypto enthusiast who has repeatedly offered public support for crypto, especially Dogecoin. In a recent Twitter Spaces discussion, Musk confirmed his interest in enabling crypto payment support on Twitter:

“It is kind of a no-brainer for Twitter to have payments, both fiat and crypto.”

Will Twitter Coin Compete with DOGE?

Due to Musk’s soft spot for Dogecoin, many have long thought that any crypto support launched on Twitter will at least support DOGE payments, whether exclusively or along with other cryptocurrencies. However, the possibility of a Twitter Coin may be direct competition for DOGE even if Twitter announces support for both cryptocurrencies. This is because shortly after the tweets suggesting a Twitter Coin, the price of DOGE plunged 14%, dropping below $0.1. As of press time, CoinMarketCap data shows DOGE trading at $0.09827.

Speculators have suggested that Twitter Coin might be a codename for DOGE instead of a new cryptocurrency built from scratch. If this happens, consequent Dogecoin activity could pump its price to a new all-time high, much higher than the $0.682 recorded in May 2021.

DOGE enthusiasts are likely hoping that Twitter will announce official support for the meme coin. A few days after Musk officially took over Twitter, DOGE pumped to $0.16 from $0.07. Although an Elon Musk tweet did not directly influence this spike, as has happened many times, Musk’s preference for DOGE likely gave enthusiasts something to hope for. In 2021 Musk described Dogecoin as “the people’s crypto.”

Enthusiasts may also be hopeful for DOGE support on Twitter because Tesla also accepts the meme coin. In January 2022, Tesla – also headed by Elon Musk – began accepting Dogecoin payments as the only alternative to fiat. Whether or not the Twitter Coin is a standalone asset, DOGE will likely pump considerably if Twitter officially allows tips and payments via the dog-themed crypto.

Der Beitrag Is The ‘Twitter Coin’ Dogecoin’s Biggest Competitor? Elon Musk To Drive DOGE To $2 erschien zuerst auf Crypto News Flash.