Is Dogecoin about to power Twitter?
Is Dogecoin about to power Twitter?
Elon Musk's accession to the Twitter throne has been quite the scene to behold like a reality T.V show live for everyone to see. From Twitter battles with x-employees to all kinds of outlandish and atypical occurrences uncommon to what we've ever seen in the past when it comes to CEO's, companies, take overs, mergers and all else in the corporate world.
Has this style benefited Elon and his companies more broadly? well it has kept his companies in the public eye and as the saying goes, any press is good press and Elon continues to deliver even if it is for entertainment purposes.
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Elon's relationship with Dogecoin
For those that don't know Elon has a long history with everyone's favorite Crypto Dog, Dogecoin from advocating for it to including it as payment to even buying large quantities of the meme coin. He's managed to singlehandedly increase the tokens value just by tweeting about it.
He's involvement purely from tweeting has seen the token reach all time highs with many speculating it would reach $US1 and make everyone rich. Unfortunately, the opposite occurred and many lost a lot of money on the meme coin but it still hasn't prevented the meme coin from being in operation.
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Twitter's New Logo
Twitter users awoke today to find out Elon Musk has continued his support for the meme coin having replaced Twitter's famous blue bird logo with the image of Dogecoin. While the reasoning behind the move is still unclear but Elon has Tweeted a meme in response to the change.
Many users are speculating that this has come about from a tweet many years ago from a user asking Elon to purchase Twitter and change the logo to Dogecoin or a April Fool's joke executed too late.
Either way, much of the community is still in a state of confusion and the broader impacts it will have on Twitter are unknown and there is no further information on what we can expect between Dogecoin and Twitter in the future.
Dogecoin Twitter Price Impact
While the move is still early and news is still breaking price increases for dogecoin have not been too large but there has been a significant spike in the price of Dogecoin overall.
Many are speculating this isn't the only move from Elon with Dogecoin and they are expecting a payment system to be implemented utilising Dogecoin although that has not been mentioned or confirmed by Elon Musk and utilising Dogecoin is probably not the best fiscal decision.
2023 is fast becoming a giant meme of a year and after COVID lockdowns and the like, do we take life to seriously and this is all just a big gag?
image sources provided supplemented by Canva Pro Subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services.
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I think it's just a random move by Elon and I don't know the reason for it. However, it does remind me that there is a lawsuit going on right now against Elon on the subject of DOGE and I wonder if he is one of the largest whale in DOGE or not.
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He probably is and he's probably not concerned about the court case. Bet it won't make it to court.
I think it's a long shot but the lawsuit is there so I wonder if it can get past the hurdle. I think they alleged that Elon might be one of the top 10 whales in DOGE and if he actually was, then they might have a case.
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Thank you Elon, for boost of my capital. I just wished that he'd accept payment in Dogecoin for a Tesla sedan 3.
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Haha! I've never bought dodgecoin. Should have when it was low but you just never know what will be good and what won't.
I didn't join the hype train. I'm not convinced lol.
Neither did I, I lose too many times lol
No one can tell at the moment, Elon musk can be very tricky too, i just investor's don't start thinking otherwise and putting more fund3 into Dodge thinking it will boom cause of musk move
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