Dogecoin (DOGE) Rallies With News Of Twitter Payments Move

Dogecoin (DOGE) Twitter: Dogecoin (DOGE) price saw an instant rise with the news of Twitter’s apparent move to introduce payments. Latest reports suggest Twitter began applying for regulatory licenses across the US for such a move. Once approved, the social networking platform could introduce payments, potentially opening doors for DOGE based payments. The crypto community has always believed Elon Musk would eventually introduce crypto based payments feature on the platform.

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Ever since Musk took over Twitter in October 2022, the Dogecoin community was bullish over the memecoin’s prospects. In fact, DOGE saw a massive bullish momentum up to few weeks from Musk’s purchase of the platform. At one point of time, DOGE price went by as much as 100% post Musk’s Twitter takeover. As of writing, the memecoin‘s price stands at $0.08908, down 0.53% in the last 24 hours. After taking a 5% surge after the news came out, the cryptocurrency took some correction.

Twitter Payments Soon?

The latest move comes only as an extension of Musk’s resolve to increase Twitter’s revenue. Besides applying for regulatory licenses, it is reported that Twitter is preparing the digital infrastructure to launch the payments feature. Therefore, subject to regulatory scrutiny, the platform is all but certain to introduce payments, leaving a lot of scope for the mode and type of payment methods. It is widely known that Musk is a big supporter of meme coin DOGE, which led to huge speculation around the combination.

According to a Financial Times report, a small team under Esther Crawford, Director of Product Management, at the company is already involved in making the payments feature work for the platform. Musk had in the past expressed interest in launching peer-to-peer transactions, savings accounts and debit cards at Twitter.

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Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

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