Elon Musk Sends Dogecoin Fans Into Further Frenzy With Recent Tweet: Here's How
As things stand, over the last 24 hours, the price of Dogecoin has traded close to 15 percent higher as the meme cryptocurrency continued its massive rally this week. Over the past seven days, the price of Dogecoin is up more than 131 percent.
The key factor behind the bull run is that investors seem to believe that Musk may incorporate some kind of crypto component into Twitter that might include the use of Dogecoin, which might spread the cryptocurrency's exposure and use. There are reports that Twitter is working on a digital wallet prototype that would support crypto deposits and withdrawals.
Musk's latest tweet also suggests that if Twitter starts monetising creators' content, the meme-themed coin might be among the payment options for creators. Adding Dogecoin as a payment will further cause its price to spike significantly. That said, a DOGE integration won't be the first on the Twitter platform. Twitter had previously integrated a Bitcoin and an Ethereum tipping feature in September 2021 and February 2022, respectively.
Based on antecedents, a DOGE payment option on Twitter is almost inevitable. Musk's other companies, such as SpaceX, Boring Company, Tesla, and the recently launched Burnt Perfume, accept DOGE payments for their products and services.