Is Dogecoin about to power Twitter?
Elon Musk's accession to the Twitter throne has been quite the scene to behold like a reality T.V show live for everyone to see. From Twitter battles with x-employees to all kinds of outlandish and atypical occurrences uncommon to what we've ever seen in the past when it comes to CEO's, companies, take overs, mergers and all else in the corporate world.
Has this style benefited Elon and his companies more broadly? well it has kept his companies in the public eye and as the saying goes, any press is good press and Elon continues to deliver even if it is for entertainment purposes.
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Elon's relationship with Dogecoin
For those that don't know Elon has a long history with everyone's favorite Crypto Dog, Dogecoin from advocating for it to including it as payment to even buying large quantities of the meme coin. He's managed to singlehandedly increase the tokens value just by tweeting about it.
He's involvement purely from tweeting has seen the token reach all time highs with many speculating it would reach $US1 and make everyone rich. Unfortunately, the opposite occurred and many lost a lot of money on the meme coin but it still hasn't prevented the meme coin from being in operation.
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Twitter's New Logo
Twitter users awoke today to find out Elon Musk has continued his support for the meme coin having replaced Twitter's famous blue bird logo with the image of Dogecoin. While the reasoning behind the move is still unclear but Elon has Tweeted a meme in response to the change.
Many users are speculating that this has come about from a tweet many years ago from a user asking Elon to purchase Twitter and change the logo to Dogecoin or a April Fool's joke executed too late.
Either way, much of the community is still in a state of confusion and the broader impacts it will have on Twitter are unknown and there is no further information on what we can expect between Dogecoin and Twitter in the future.
Dogecoin Twitter Price Impact
While the move is still early and news is still breaking price increases for dogecoin have not been too large but there has been a significant spike in the price of Dogecoin overall.
Many are speculating this isn't the only move from Elon with Dogecoin and they are expecting a payment system to be implemented utilising Dogecoin although that has not been mentioned or confirmed by Elon Musk and utilising Dogecoin is probably not the best fiscal decision.
2023 is fast becoming a giant meme of a year and after COVID lockdowns and the like, do we take life to seriously and this is all just a big gag?
image sources provided supplemented by Canva Pro Subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services.
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