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Will Elon Musk Integrate Dogecoin (DOGE) Transactions for Twitter?

Adekunle Joshua
By Adekunle Joshua
3 Min Read
VOC, Voice of Crypto, DOGE, MUSK, Twitter

Key Insights

  • Over the last two years, Musk has been recognized as one of Dogecoin’s biggest proponents and promoters. 
  • Dogecoin has performed extraordinarily well over the last few weeks and has almost doubled in price. 

Tesla/SpaceX CEO and businessman Elon Musk is once again standing in support of Dogecoin.

Contents

Just last month, the “dogefather” acquired one of the biggest social media platforms in the world, Twitter. Musk purchased it for $44 billion, and the buzz around it remains very much alive.

Over the last two years, Musk has been recognized as one of the biggest proponents of Dogecoin. Following his recent acquisition of the social media giant, some of that buzz has spilled over onto DOGE.

Dogecoin has performed extraordinarily well over the last few weeks and has almost doubled in price. Some of this bullishness on the cryptocurrency is due to the speculation (fueled by Musk himself) that this new owner of Twitter will somehow integrate DOGE as a payment system into the platform.

Musk Fuels Dogecoin’s Price Action

Among other cryptocurrencies, Musk has long supported DOGE in particular.

The new self-described “Twitter Complaint Hotline Operator” is well known for tweeting memes and bullish messages on DOGE.

Recently, Musk tweeted a picture of a Shiba Inu Dog (the Dogecoin logo) wearing a Twitter shirt and sitting beside a jack-o lantern.

After the tweet, Dogecoin spiked from $0.125 to $0.157 over 24 hours in the inter-day trading charts.

As expected, investors rushed to take profits on the cryptocurrency, leading to a short-term price rejection and a drop to the $0.12914 zone where it now sits.

So far, Dogecoin is not the only memecoin to benefit from this bullishness.

Over the last 7 days, several other memecoins, including Shiba Inu, have charged higher. Dogelon Mars, a lesser known memecoin, gained almost 80% in seven days, and Shiba Inu gained 55% over the same period.

There is a good chance Dogecoin’s bullish rally might get started. The meme coin sector could be in for another breakout year.

It remains to see how Musk is just getting started in his involvement as the owner of Twitter and is actively dropping hints about integrating a crypto wallet (featuring Dogecoin) into the social media platform.

Disclaimer: Voice of crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

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ByAdekunle Joshua
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Adekunle Joshua is a crypto journalist and writer at Voice of Crypto, where he covers cryptocurrency, blockchain, NFTs, DeFi, and the Metaverse. He joined Voice of Crypto in 2022 after working as a freelance technical writer at Bulltoken, a cryptocurrency crowdfunding platform in Norway, where he developed technical whitepapers and collaborated with development teams to document blockchain protocols. Throughout his career, Joshua has specialized in demystifying complex crypto concepts for broad audiences through clear, accessible writing. His expertise spans cryptocurrency market analysis, trend forecasting, Ethereum ecosystem coverage, and blockchain technology reporting. He collaborates with editorial teams to deliver unbiased, engaging content that drives traffic and elevates brand awareness for crypto projects worldwide. Joshua graduated from the Federal University of Agriculture, Abeokuta (FUNAAB), Nigeria with a Bachelor of Engineering in Electrical and Electronics Engineering in 2021. Disclosure: No significant crypto holdings.
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