Elon Musk, who came to the fore with his purchase of Twitter, is again in the headlines with his latest moves. Now that Twitter is the owner, Musk, who is expected to integrate Dogecoin (DOGE) into the social media platform, tweeted about this issue. Dogecoin’s price jumped after the tweet. Here are the details…
Elon Musk may have hinted that DOGE would come to Twitter
Elon Musk hinted at DOGE for the first time after the Twitter deal. Musk has been an ardent supporter of Dogecoin for the past few years. In fact, according to his previous statements, which we also reported as Kriptokoin.com, Musk believes that DOGE is better than Bitcoin for making daily payments/transactions. In his latest tweet, Musk looks like he dressed his Shiba Inu pet in a Twitter t-shirt.
https://twitter.com/elonmusk/status/15872977306316966384
Musk’s support for Dogecoin has led to several rallies in the past. Even in the last tweet, the DOGE price jumped directly 20 percent within minutes. Many market analysts believe that DOGE payments could be coming to the platform soon, with Elon Musk taking over Twitter. DOGE had an outstanding rally. It is currently trading at levels seen in May 2022 before the market crash.
DOGE’s value rose 25 percent
The biggest meme coin has continued to rise under the influence of Musk’s latest tweet. At the time of writing, it is changing hands at $0.1458, up 24.7%. The cryptocurrency rallied as high as $0.1469 on a daily basis. It broke out of these levels, from the $0.1150 levels. Its latest rise put DOGE’s seven-day price increase to 145 percent.
Meanwhile, support came from Cardano founder Charles Hoskinson regarding the integration of DOGE to Twitter. Noting the use case of DOGE, Hoskinson talked about Dogecoin’s potential to work as an ADA side-chain. He said he would do the integration for free.
Elon Musk fired 9 board members
Meanwhile, Twitter’s nine-person board of directors disappeared. Thus, Elon Musk is now the sole manager of the social media company. After Musk assumed control of the social media platform Thursday night, he immediately sacked Twitter CEO Parag Agrawal, CFO Ned Segal, and head of legal policy and security Vijaya Gadde. This action confirmed many users’ fears over the turmoil Musk’s administration will create for the social media platform.
“Musk became sole director of Twitter” following the completion of the merger on October 27, 2022, according to a statement the company made to the U.S. Securities and Exchange Commission (SEC). On Thursday, Musk tweeted that he took to Twitter “because it’s important to the future of civilization to have a common digital square where a wide range of beliefs can be healthily discussed.”
Some members are leaving the platform
The billionaire also plans to launch a new app in Twitter’s verification system. Musk is aiming to implement a reform that will allow verified users to pay for “blue ticks” protection. Users with a blue tick are given 90 days to subscribe to the Twitter Blue platform for $19.99. Musk’s acquisition of Twitter and announcing his various plans caused some users to leave the platform. Most recently, Shonda Rhimes, an American television screenwriter, producer, and writer, tweeted that she was leaving.
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