The news of Elon Musk’s acquisition of Twitter shook the world a few weeks ago, causing rippling effects in a variety of businesses. Furthermore, sources indicate that this fact has unearthed various controversies concerning Dogecoin’s future.
It was also claimed that a large number of important DOGE fans and enthusiasts saw a huge surge in the price of this well-known meme coin.
According to experts, Musk’s cryptocurrency promotion via his tweets was responsible for a big portion of the DOGE’s surprise surge in worth and value. Dogecoin’s price has recently increased after Musk unveiled his plans for Twitter 2.0.
Dogecoin experienced a quick 19.4% price surge as a result of prominent businessman Elon Musk’s declaration that he intends to add payments into Twitter 2.0, or “The Everything App.”
On November 27, the billionaire and new Twitter CEO revealed multiple slides from a recent corporate session in which he described his aims to his 119.2 million followers in a tweet.
While Musk did not mention DOGE in the tweet or the attached slides, this did not stop some speculators from thinking that Dogecoin will be tied in some way.
According to CoinGecko data, Dogecoin’s price climbed by 19.4% in the hours following the tweet, rising from 0.089 to 0.107 USD before falling to $0.096 at the time of writing.
“Advertising as Entertainment,” “Video,” “Encrypted DMs,” “Longform Tweets,” and “Relaunch Blue Verified,” among others, were some of the things Musk also mentioned in his list of ambitions for Twitter 2.0.
Twitter hit an all-time high in terms of “new user signups” and “active user minutes,” which were up 86% and 30%, respectively, during the previous week compared to the same seven-day period in 2021. According to the slides, Musk’s takeover of the company has already exceeded expectations.
Jane Manchun Wong, a well-known tech blogger, theorized in a tweet on October 27 that the company had already begun to work on a wallet prototype that accepts Bitcoin deposits and withdrawals. This information spurred suspicion about Twitter’s plans for a cryptocurrency wallet, which first surfaced in October. The price of DOGE increased by 40% as a result of this development.
Stakeholders in the crypto community have voiced their opinions on this. Although some believe it is a better move, others believe it will be limited to payments.
