The news of Elon Musk's acquisition of Twitter rocked the world some weeks ago, and this development sent ripples of several changes across different industries. Furthermore, reports revealed that this reality exhumed several controversies around Dogecoin's future.
It was also reported that numerous significant DOGE users and enthusiasts experienced a considerable increase in the price of this well-known meme coin. According to experts, a large percentage of the unexpected surge in the DOGE's worth and value stemmed from Musk's cryptocurrency promotion via his tweets. In recent events, Dogecoin has seen another price surge after Musk announced his Twitter 2.0 aspirations.
Dogecoin had a brief 19.4% price increase due to renowned businessman Elon Musk's confirmation that he plans to incorporate payments into Twitter 2.0, or, as he called it, "The Everything App."
In a tweet on November 27, the billionaire and new Twitter CEO published numerous slides from a recent company talk where he outlined his goals to his 119.2 million followers.
While Musk didn't name DOGE in the tweet or the linked slides, this reality didn't deter some speculators from hoping that Dogecoin would somehow be connected.
Statistics from CoinGecko show that during the several hours following the tweet, Dogecoin's price increased by 19.4% from 0.089 to 0.107 dollars before declining 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 reached an all-time high in terms of "new user signups" and "active user minutes," which were up 86% and 30%, respectively, over the last week compared to the same seven-day period in 2021. Deductions from the slides also suggest that Musk's acquisition of the company has already surpassed expectations.
On October 27, a well-known tech blogger, Jane Manchun Wong, theorized in a tweet that the company had already started to work on a wallet prototype that embraces cryptocurrency deposits and withdrawals. This news fueled speculation about Twitter's plans for a cryptocurrency wallet, which began to circulate in October. This development led to a 40% increase in the price of DOGE.
Stakeholders in the crypto world expressed their thoughts on this. Although some believe it could be a better move, others predict that its usage will be restricted to payments.
What are your thoughts on incorporating Dogecoin into Twitter? Do you think Elon Musk's plans could involve this? How feasible is it? Kindly share your thoughts with us in the comments section.
