MEXCFirst Time After Twitter Deal, Elon Musk Hints of DOGE Coming to The Platform
Well well, Elon Musk has spilled the beans and has hinted about Dogecoin (DOGE) coming to the Twitter platform very soon. In his recent tweet, Elon Musk shared a pic of the Shiba Inu dog breed wearing a Twitter t-shirt. Thus, this fuels the ongoing speculation that he could soon bring DOGE payments to his newly acquired social media platform.
— Elon Musk (@elonmusk) November 1, 2022
This is the first time after the Twitter deal, that Elon Musk has publicly spoken about his favorite memecoin DOGE. The tweet has done enough to shoot the DOGE price once again. As of press time, DOGE is trading 15.68% up at a price of $0.13 with an $18.3 billion market cap.
On a weekly chart, DOGE trades at more than 125% gains. Since the rally on the weekend, the social interest in the cryptocurrency has spiked considerably. As on-chain data provider Santiment reports:
Dogecoin is still +9% over the past 24 hours, despite most of #crypto declining into the negatives after a big weekend. Social dominance has been the primary indicator, as crowd hype spikes have created local tops, and crowd fear foreshadowed bottoms.
Elon Musk and Dogecoin
Over the last few years, Elon Musk has been an ardent supporter of Dogecoin. In fact, Musk believes Dogecoin to be better than Bitcoin for making daily payments in crypto.
Musk’s support for Dogecoin has led to several rallies in the past. Even with the recent tweet, the DOGE price shot up straight by 15% within minutes. Many market analysts believe that with Elon Musk acquiring Twitter, DOGE payments could soon come to the social media platform.
DOGE has staged a phenomenal rally and is currently trading at levels last seen in May 2022 before the market crash. Cardano founder Charles Hoskinson has also shown interest in getting DOGE to Twitter.
“Dogecoin finally has a use case. If elon decides to use it for twitter, then there are automatically 200 million users and a usecase. That’s a lot more real than memes”, he wrote.
Furthermore, he also said that Dogecoin can operate as an ADA sidechain and would do the integration for free.
- Markets Expect October Fed Rate Cut as Bitcoin Repeats Post-FOMC Pattern
- Trump Tariff: China Resumes U.S. Imports After Agreement With South Korea
- BlockDAG Hype Surges as Coinbase and Kraken Listing Rumors Spread
- Bitget’s Institutional Volume Hits $23.1 Billion as UEX Framework Gains Global Momentum
- Breaking: Grayscale Joins Bitwise, Launches Solana ETF Covering Spot and Staking Features
- Bitcoin Price Rally Bound? How the Fed’s Move May Unleash Crypto
- Can ASTER Price Rebound 50% as Whale Activity and Bullish Pattern Align?
- Pi Network Patterns Point to More Gains Despite Manipulation Claims
- HBAR Price Poised to Hit $0.30 as Canary Capital ETF Starts Trading.
- Will Solana Price Rally to $300 as Bitwise Launches $BSOL ETF?
- XRP Price Chart Patterns Hint at 2017-Style Breakout as Evernorth Acquires $1B XRP Ahead of Nasdaq Debut
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
