After a tweet from Elon Musk on the upcoming news regarding the future of Twitter, Dogecoin (DOGE) saw its price soar. Still, the entrepreneur didn’t mention the asset, but fans saw it as a hint of its upcoming integration into the social network’s payment system.
DOGE takes over 20% following the news on Twitter
On Sunday, Elon Musk shared some infographics relating to the numbers of his newly acquired social network, as well as plans for the future. Among the new features coming to Twitter is a “Payments” section, and if absolutely nothing mentions Dogecoin (DOGE)fans of the famous memecoin saw it as a clue as to its next integration:
Slides from my Twitter company talk pic.twitter.com/8LLXrwylta
— Elon Musk (@elonmusk) November 27, 2022
From Elon Musk’s tweet, the DOGE thus relaunched its bull run which it started at the end of October, going as far as showing an increase of 21% at midday :
DOGE prices in hourly data
Since then, the excitement has subsided somewhat and the price has regained some momentum, but at the time of writing these lines, the DOGE still displays an increase of about 6.5% since the news about Twitter.
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The real subjects of Elon Musk’s tweet
In reality, Elon Musk instead shared data on the social network, suggesting that everything is going well since he is in charge. We thus learn, without surprise, that the company is recruiting, but also that it would record a historical high (ATH) of new users and an ATH also on the minutes of daily activities. This last figure would amount to eight billion over the past week, an increase of 30% in one year.
In addition, hate messages on the network would be at an all-time low, while the number of “monetizable” active users would continue to increase. Of course, if all these numbers seem positive, it is always possible to make the statistics speak to your advantage. Especially since Twitter needs to restore its image given the current difficulties.
In the news to come, we will note for example the upcoming arrival encryption of private messages and a new tweet format: long tweets. However, no date is announced for these future implementations.
To return to the payment system, we should also point out that the infographic shared by Elon Musk on this subject is left empty. Given that the company would work on its own wallet, that it is more and more open to our ecosystem and that Binance also supports it, it would not be surprising if these payments actually affected cryptocurrencies. But pending further information, everything else is speculation.
👉 On the same subject – Twitter: the head of the cryptocurrency department resigns
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I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
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