According to Cointelegraph, Musk released details from his most recent “Twitter business chat” with his estimated 119.2 million followers when he revealed his ambitions.
Dogecoin (DOGE) had a brief 19.4% price increase as a result of billionaire entrepreneur Elon Musk’s confirmation of his plans to integrate payments into what he calls Twitter 2.0, according to Cointelegraph.
In a tweet on November 27, 2022, Musk revealed details from his most recent “Twitter company chat” with his estimated 119.2 million followers, according to Cointelegraph. Investors were not deterred from holding out hope that Dogecoin might help in any manner because it is claimed that Musk made no mention of DOGE in the tweet or in the slides cited.
Based on the information provided by Cointelegraph, CoinGecko statistics revealed that the price of DOGE increased from $0.089 to $0.107, where it was at $0.096 at the time the article was written. According to reports, Musk also had ideas for “Advertising as Entertainment,” “Video,” “Encrypted DMs,” “Longform Tweets,” and “Relaunch Blue Verified” as part of Twitter 2.0. The number of “new user signups” and “user active minutes,” which were up 86% and 30%, respectively, in the previous week compared to the same seven-day period in 2021, is thought to have reached an all-time high as a result of Musk’s takeover of the company.
Musk decided to integrate DOGE with Twitter, but Lior Yaffe, the co-founder of Jelurida, a blockchain software business located in Switzerland, said that there are many better blockchain options than Dogecoin to pick from in terms of security, privacy, smart contracts, and scale.
According to Daniel Elsawey, co-founder and CEO of TideFi, a decentralized exchange (DEX), “Given that DOGE cannot directly interact with smart contracts as part of its original design, I would say that the use cases associated will continue to remain speculative unless it’s specifically used as an option for payment.”
