1 year ago
A subtle alteration successful Elon Musk’s Twitter bio has reignited rumors Dogecoin whitethorn soon beryllium utilized for payments connected Musk’s “everything app.”
3520 Total views
9 Total shares
A subtle alteration successful Elon Musk’s Twitter bio aft his platform’s rebrand to “X” has again fanned the flames of speculation that Dogecoin (DOGE) whitethorn person a aboriginal connected the platform.
On July 25, eagle-eyed Twitter (now X) users began pointing retired that Elon Musk’s illustration determination present sports some an “X” and a “D” — with X referencing Twitter’s caller branding, portion D has been interpreted to mean Dogecoin, a memecoin helium has been publically supportive of successful the past.
Anyone other announcement the Dogecoin (Ɖ) awesome successful Elon Musks determination pic.twitter.com/Y1OGT42hD2
— Morgan (@Helloimmorgan) July 24, 2023Other observers, specified arsenic Real Vision CEO Raoul Pal, came to a akin conclusion, albeit with antithetic reasoning.
In a July 25 tweet, Pal said Musk would astir apt usage Dogecoin to marque planetary payments for creators connected the platform, noting that the eccentric billionaire already “owns a large chunk anyway” and “he likes it.”
Two things Ive said erstwhile Elon bought "X":
Elon bought it for the AI, and the escaped code space is to springiness it an unbiased model. He needs the AI to bid the Optimus robot.
He volition usage crypto to beryllium capable to marque planetary payments for creators etc. My conjecture is helium uses Doge. 1/
When asked wherefore Musk wouldn’t make his ain platform-specific token for these payments, Pal suggested that Dogecoin could assistance Musk get astir securities laws, giving him “zero execution risk.”
Twitter’s rebrand to X came with small informing connected July 24, officially making the crossover astatine 10 americium UTC. Musk’s notation to Dogecoin and the resulting speculation managed to people a tiny terms summation for the memecoin, which roseate arsenic precocious arsenic 5%, according to data from TradingView.
It is presently trading astatine $0.07, up 9.5% implicit the past 7 days.
Related: Elon Musk to rebrand Twitter to X, but Crypto Twitter has different ideas
In emailed comments to Cointelegraph, eToro marketplace expert Josh Gilbert said that portion the rebrand whitethorn supply a short-term rally for Dogecoin, Musk’s determination could besides output important impacts for the crypto marketplace successful the agelong term.
“It does person implications for crypto successful the short-term arsenic it moves markets. But it’s successful the semipermanent arsenic Musk looks to physique retired outgo networks utilizing his ain level that could soon vie with the likes of Ethereum, Bitcoin oregon others,” Gilbert explained.
“While the marketplace reads the beverage leaves of Musk’s choices, it’s amended for investors not to go distracted by short-term events and absorption connected the longer and wider trends,” Gilbert said.
Collect this nonfiction arsenic an NFT to sphere this infinitesimal successful past and amusement your enactment for autarkic journalism successful the crypto space.
Magazine: How astute radical put successful dumb memecoins — 3-point program for success
English (US) 