The ‘Elon Musk Effect’ is in full swing as a photo of a Shiba Inu dog posted by Mr. Musk caused the price of Dogecoin to instantly rise by 12%.
— Elon Musk (@elonmusk) November 1, 2022
Dogecoin saw a bullish move last week as news of a completed Twitter deal began to trickle in. With this, Memecoin overtook Cardano in the market capitalization rankings.
Since October 22nd, Dogecoin has posted a 170% gain, peaking at $0.15794 today, a 27-week high.
As Musk sets out to bring his Twitter vision to life, there are rumors that Dogecoin could be used in some way as part of his plans.
Change everything on Twitter
After months of back and forth, Musk made an instant presence by completing the $44 billion acquisition of Twitter on October 28.
Mr. Musk’s first move The numbers include CEO Parag Agrawal and Vijaya Gadde, the head of legal policy, trust and security, accused of enforcing political bias and promoting censorship and “awakeningism.” was planning to fire a top executive. Ban Donald Trump’s Account.
But now that he’s in charge, some have accused him of hypocrisy. For example, heading into the US midterm elections, Arizona nominee Mark Finkem said the Twitter ban was politically motivated, calling it a “candidate funded by criminal Soros.” added that he was against
AZ, a candidate for Secretary of State Mark Finkem, has apparently been banned from his Twitter account, accusing Elon Musk of banning him. pic.twitter.com/dDQ6Eerak4
— Sam Brody (@sambrodey) October 31, 2022
Others pointed out that an account temporarily locked due to lift time due to Finchem raising the issue does not equate to a lifetime ban.
Twitter’s latest change to call into question the platform’s leadership structure is the dissolution of its board of directors, with Musk sole director of the company.
Dogecoin to pay for ‘super apps’?
@Croissant ETH I posted a long thread that dived into the speculation surrounding the upcoming change.The key to his post is resurrection x.comonline bank merged with Confinity Since 2000 it has been PayPal.
In 2017, Musk purchased the x.com domain name from PayPal. unplanned I bought the domain name for sentimental reasons.
@CroissantETH linked the acquisition of x.com and Twitter, calling the deal “X Holdings”
In a series of chats with Musk, former Twitter CEO Jack Dorsey, and others, Musk revealed plans for a blockchain-based social media platform, including the concept of paying “small sums” to register messages on the chain. I wrote about
He later wrote, “You’ll probably have to pay 0.1 Doge for each comment or repost of that comment.” FTX co-founder Sam Bankman-Fried said he would love to hear more about this vision.
@Croissant ETH Back at x.com, he says he believes Musk’s intention is to build a “super app” under the x.com banner.
An example of a super app is Tencent’s WeChat, which incorporates IM, social media and mobile payments.
Posted by Dogecoin x Twitter: The worst kept secret in cryptocurrency? First appeared on CryptoSlate.