1 year ago
The “Elon Musk Effect” is backmost successful afloat swing, arsenic a Shiba Inu representation posted by Musk sparked an contiguous 12% leap successful the terms of Dogecoin.
— Elon Musk (@elonmusk) November 1, 2022
The erstwhile week saw bullish terms enactment for Dogecoin arsenic quality of completing the Twitter woody began filtering through. This resulted successful the meme coin overtaking Cardano successful the marketplace headdress rankings.
Since Oct. 22, Dogecoin has posted 170% gains, peaking astatine $0.15794 today, marking a 27-week high.
Source: DOGEUSDT connected TradingView.comAs Musk sets astir realizing his imaginativeness for Twitter, rumors are Dogecoin whitethorn beryllium utilized successful immoderate capableness arsenic portion of his plans.
All alteration astatine Twitter
After months of backmost and forth, Musk completed the $44 cardinal acquisition of Twitter connected October 28 and instantly made his beingness felt.
Musk’s archetypal actions were to occurrence respective apical executives, including CEO Parag Agrawal and Vijaya Gadde, the Head of Legal Policy, Trust, and Safety, who was accused of enforcing governmental bias and pushing censorship and “wokeism,” including approving the ban connected Donald Trump’s account.
However, present that Musk is successful control, immoderate person accused him of hypocrisy. For example, successful the run-up to U.S. midterm elections, Mark Finchem, a Secretary of Arizona State nominee, said his Twitter prohibition was politically motivated, adding that helium is moving against “the transgression Soros funded candidate.”
Mark Finchem, AZ caput of authorities candidate, is seemingly locked retired of his Twitter relationship and is accusing Elon Musk of banning him pic.twitter.com/dDQ6Eerak4
— Sam Brodey (@sambrodey) October 31, 2022
Others pointed retired that a temporarily locked account, owed to assistance hours from Finchem raising the issue, is not comparable to a beingness ban.
The latest alteration astatine Twitter, which has raised questions astir the platform’s enactment structure, is the board’s dissolution, making Musk the company’s sole director.
Dogecoin for “super app” payments?
@CroissantETH posted a lengthy thread diving into the speculation surrounding coming changes. Key to his station is the resurrection of x.com, an online slope that merged with Confinity successful 2000 and aboriginal became PayPal.
In 2017, Musk purchased the x.com domain sanction from PayPal, saying helium had no plans for the domain sanction and made the acquisition for sentimental reasons.
@CroissantETH linked x.com and the Twitter acquisition by pointing retired that the woody was done done the sanction “X holdings.”
In a bid of chats betwixt Musk, erstwhile Twitter CEO Jack Dorsey, and different figures, Musk wrote astir his plans for a blockchain-based societal media platform, including the conception of paying “a tiny amount” to registry a connection connected the chain.
He aboriginal wrote, “so you’d person to wage possibly 0.1 Doge per remark oregon repost of that comment.” FTX co-founder Sam Bankman-Fried replied by saying helium was funny successful learning much astir this vision.
@CroissantETH circles backmost to x.com, saying helium believes it is Musk’s volition to physique a “super app” nether the x.com banner.
An illustration of a ace app mightiness beryllium Tencent’s WeChat, which incorporates IM, societal media, and mobile payments.
The station Dogecoin x Twitter: The worst kept concealed successful cryptocurrency? appeared archetypal connected CryptoSlate.
English (US) 