DOGE jumps after Musk shares Twitter 2.0 plans

Elon Musk, an entrepreneur worth a billion dollars, has said he wants to add payments to “The Everything App,” which he calls “Twitter 2.0.” After this news came out, the price of Dogecoin, based on a meme, went up by 19.4% for a short time (DOGE). Even though Musk didn’t say anything about DOGE in his tweet or the slides that went with it, some investors still hope that Dogecoin will be involved somehow. If you are looking for a safe and secure trading platform for Bitcoin, you must visit bitcoin-billionaire.com here you can find information on how to use it, and how to trade on Bitcoin.

One Dogecoin cost 19.4% more after the tweet, going from $0.089 to $0.107. It had settled at $0.096 when this article was written.

A DOGE jumps after Musk shares Twitter 2.0 plans

Elon Musk, an entrepreneur worth a billion dollars, has said he wants to add payments to “The Everything App,” which he calls “Twitter 2.0.” After this news came out, the price of Dogecoin, based on a meme, went up by 19.4% for a short time (DOGE). Even though Musk didn’t say anything about DOGE in his tweet or the slides that went with it, some investors still hope that Dogecoin will be involved somehow. If you are looking for a safe and secure trading platform for Bitcoin, you must visit bitcoin-billionaire.com here you can find information on how to use it, and how to trade on Bitcoin.

One Dogecoin cost 19.4% more after the tweet, going from $0.089 to $0.107. It had settled at $0.096 when this article was written.

A dismal future for DOGE?

Cointelegraph talked to Lior Yaffe, co-founder of Switzerland-based blockchain software company Jelurida, to find out if Musk’s purchase of Twitter and continued support of DOGE are likely to have a long-term effect on the digital currency’s financial future. Yaffe could say what he thinks Musk will or won’t do based on his actions. Yaffe has little faith in Dogecoin because Musk has made some questionable choices in the past.

Nikita Zuborev, the chief analyst for the cryptocurrency exchange BestChange, told Cointelegraph that meme tokens often proliferate for no reason but that Musk’s recent purchase of Twitter could make DOGE more expensive. This is because you need to be sure that the asset won’t be added to the company’s social network ecosystem. He added:

“If this happens, the useless meme coin will turn into a way for the platform to control everything. Because of this, it will be usable by a very large number of people. With this change, the currency can be used differently, which many investors are counting on.

Zuborev said that the upcoming launch of the SpaceX-backed Doge-1 lunar spacecraft proved his point. The name of the currency and this project are connected. He said that this would make a lot of people want DOGE, which would cause the price to go up.

Still, he agreed that, as long as the currency’s main selling point is still its focus on memes, it would be wise to add it to your portfolio to make it more diverse. He said this because he had already said that the most important thing about an asset was how it would do in the future. Despite that, he doesn’t think DOGE is a good investment.

“Bitcoin is a currency that is more stable and easy to add to Twitter’s ecosystem. It could be seen as an alternative to DOGE, especially if you want to make money from Musk’s ongoing market manipulations.” What did he say?

Everyone knows that DOGE isn’t worth much

Because Musk likes Dogecoin and recently bought Twitter, so it seems likely that speculation on the asset’s price will continue, at least for a while. Even so, it can’t be denied that Dogecoin isn’t very useful in the real world as a cryptocurrency project. Daniel Elsawey thought the same thing. He is the CEO of the decentralized exchange TideFi and one of its founders.

Taking a more comprehensive look at the situation, he told Cointelegraph that the cryptocurrencies traded in the digital asset sector might be split into two groups: those that can run smart contracts and those that can’t. From his point of view, the whole market is moving toward tokenizing common goods. This could impact the curve of how people use digital assets to the left or right. “

Even though the cryptocurrency business is still young, it still depends a lot on Bitcoin and pays a lot of attention to how its price changes. Bitcoin is the digital currency that most people use. The recent collapse of the cryptocurrency exchange FTX has also made the market unstable. In the short to medium term, this event will directly affect the prices of most cryptocurrencies.” In this way, Dogecoin is the same as any other digital currency. Elsawey decided that there was still a lot he needed to learn about the asset.