Dogecoin investors continue to believe that Musk’s vision for Twitter 2.0_.
Billionaire business visionary Elon Musk has confirmed that he expects on coordinating payments into what he depicts as Twitter 2.0 – “The Everything Application” fuelling a short-lived 19.4% price surge for meme-inspired cryptocurrency Dogecoin (DOGE).
The new Twitter CEO uncovered his arrangements in a Nov. 27 tweet to his 119.2 million followers, in which he shared a few slides from a new “Twitter company talk.”
While Musk made no mention of Doge in the attached slides, this didn’t stop some investors from being hopeful that Doge would be involved in some way.
According to data from CoinGecko, Dogecoin’s (DOGE) price flooded 19.4% from $0.089 to $0.108 north of a few hours after the tweet prior to cooling off to $0.096 at the hour of writing.
Different plans listed as a feature of Musk’s vision for Twitter 2.0 included “Promoting as Diversion,” “Video,” “Encrypted DMs,” “Longform Tweets” and “Relaunch Blue Verified.”
Data from the slides also recommend that Musk’s takeover of the company has proactively had an effect, with the social media platform reaching an unsurpassed high in terms of “new user information exchanges” and “user dynamic minutes,” which were up 86% and 30% separately over the course of the past week in comparison to a similar multi day time span in 2021.
In October, Jane Manchun Wong speculated about the plans of the social network.
The DOGE price surge was due to the fact that the company had begun working on a wallet prototype that supports cryptocurrencies deposits and withdrawals.
The co- founder of Jelurida, Lior Yaffe, told that it wouldn’t be a good idea for Musk to integrate Dogecoin onto the social media.
Even if they manage to build a payment system around Twitter, there are better solutions for security, privacy, smart contracts and scaling out there.
While the integration is possible, it would be limited to payments, according to Daniel Elsawey, CEO and co-founder of TideFi.
Unless it is specifically used as an option for payment, the use cases associated with DOGE will remain speculative.
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