- Many people are anticipating that Musk will include DOGE and crypto on Twitter.
- The main reason behind this anticipation is that Musk is a DOGE backer
Bloomberg has reported that many people are guessing that Elon Musk may include crypto in Twitter. Twitter has permitted users to exchange Bitcoin and Ethereum and they can also make non-fungible tokens (NFTs) as profile pictures.
These options may be only a small portion of upcoming large things under Elon Musk’s control and management. Everyone is aware that Musk is DOGE backer, and the market is evaluating any future imposition of the DOGE in present or upcoming updates.
This thing will definitely enhance the DOGE’s adoption and permit it to gain equality with the U.S. dollar. In the last year, the “Dogecoin to $1” guarantee made the DOGE into value finding. Because of this and along with the support of Musk’s tweet, the meme coin touched more than $0.75.
The Dogecoin bull run in the last year stopped because of an Elon Musk associated event. At that time, Musk threw a “Saturday Night Live” making a “purchase the rumor, sell the news” trade.
In that manner, it looks quite rational that one more event thrown by Musk is pushing the value of Dogecoin under new anticipations of upcoming gratitudes. On Twitter, crypto investors discuss the Dogecoin rally and its part on the Musk-owned social media platform. Few of them trust that Musk is making one more price bubble which will result in major losses of leading investors.
Different opinions
The software architect and lead iOS engineer at aok systems, Erik Lippmann stated that “This push is completely because of rumors that Elon Musk is going to make $DOGE a currency on his owned social media platform. Which is more likely not to be done and this rumor will break after he clarifies it.”
A social media analyst, Joey Hickson said that the following on the potential inferences for DOGE, meme coins, and crypto normally in Musk’s mentorship:
“If you are still not attempting to learn and be an expert in crypto and meme coins after Elon Musk has acquired Twitter then you are going to regret that you didn’t.”
The news of Musk’s Twitter acuiration has highlighted more details about the bodies supporting him. One of the parties supporting him is the crypto exchange platform Binance.
A report from a reliable media source suggests that, Binance guaranteed $500 million to back Musk’s proposal. This guarantee permits Binance to have a share in Twitter.
Source: https://www.thecoinrepublic.com/2022/10/30/will-twitter-include-doge-and-crypto-under-musks-leadership/