The ownership of the social media app, Twitter, by billionaire Elon Musk has generated many comments from the crypto community. One of the hot topics is the prediction of Dogecoin (DOGE) as Twitter’s currency.
The prediction is expected as Elon Musk has played a huge role in the rise of Dogecoin. The Tesla CEO finally acquired the blue-bird app on October 28, 2022, which got many people talking.
One of the big talkers is David Gokhshtein, who tweeted shortly after the multi-billionaire acquired Twitter. He predicted that Dogecoin will be the first currency to be used on the social media network. Many have therefore made this same claim.
In this post, we’ll discuss if DOGE could be adopted by Elon Musk’s Twitter. Before then, let’s see a brief about Dogecoin and its connection to the new owner of Twitter.
What is Dogecoin (DOGE)?
Dogecoin is a cryptocurrency created as a ‘joke’, to make fun of the wild speculations of crypto at the time it was created. Billy Markus and Jackson Palmer are the two engineers that created dogecoin.
Dogecoin is a meme coin that promotes the currency as the “fun and friendly Internet currency”. Dogecoin was initially designed to be “as ridiculous as possible,” in keeping with its parody theme and to prevent people from actually using it over the long term.
Fortunately, dogecoin has grown popular over time, most especially after it found the interest of Elon Musk. Today, DOGE is one of the largest and most popular cryptos. As of this writing, Dogecoin is ranked 9th among thousands of cryptocurrencies and has a market cap of $10,098,349,926.
Elon Musk & Dogecoin- What You Need to Know
The Shiba Inu dog-themed crypto, Dogecoin, has been hyped by influencers to get to its position today. Elon Musk is DOGE biggest influencer having mentioned it and made tweets about it on his official Twitter page since the days of Jack Dorsey.
The price of DOGE has gone up several times whenever Elon Musk post something about Dogecoin. This has made him to be tagged the ”Dogefather’‘. Another memecoin, Dogelon Mars has been created due to his impact on the leading meme coin.
The Tesla CEO is accepting DOGE as a form of payment on some of his products which includes merch. Dogecoin, created to rival Bitcoin has done its bit due to the influence of the Dogefather.
Could Twitter Adopt Dogecoin Under Elon Musk?
Shortly after Elon Musk fully acquired Twitter, he held a live conference on Twitter Spaces and informed listeners that he was working on Dogecoin. He stated, ”DOGE to the moon’‘ which led to a price surge as expected by the crypto community.
The billionaire then made known his vision for the social media network. He stated that he has a vision for Twitter to process payments. Step has also been taken to ensure that payments are being made and received on the platform. However, the Dogefather hasn’t mentioned the dog-themed coin as the official currency of Twitter.
Since Elon Musk has stated that he is into Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), the crypto to adopt is not yet known.
Elon Musk recently acquired one of the biggest social media platform, Twitter. The billionaire has been a voice for cryptocurrency and has invested in it (Bitcoin). With his constant support for DOGE and his plans to receive payment with crypto on the bird app, DOGE has been predicted as the official currency in that social community.