Dogecoin’s Twitter effect

Dogecoin Elon Musk

As Elon Musk became the largest shareholder of Twitter, dogecoin, the joke meme coin, shot up 11%.

It is the first time for Elon to join the Twitter’s board of directors and reshape the future the Twitter’s governance. In the past few months, the riches man in the world has been promoting dogecoin, even advocating for dogecoin to be accepted as alternative payment at Tesla’s supercharging stations and its online merchandise store.

It’s the second spike in two days for dogecoin on Musk/Twitter-related news. As Musk enters the board, he could push for dogecoin to be integrated into the twitter and might set a stage for future digital currency’s adoption.

“The speculation is that advertisers could be able to pay for DOGE ads and for other uses on Twitter,” said Kryptomon Chief Marketing Officer Tomer Nuni. “We have seen the same happening when Tesla revealed the ability to pay for its goods with DOGE. So the speculation could be around Musk’s businesses and stakeholdings starting to accept crypto, as Tesla does.”

What lies ahead for the dogecoins with twitter is unclear, yet it is plausible that social media merging with cryptos are trending in days to come.


Skycorp News