After a tweet from Elon Musk about upcoming news about the future of Twitter, Dogecoin (DOGE) saw its price soar. Yet the entrepreneur didn’t mention the asset, but fans took it as a hint that it would soon be integrated into the social network’s payment system.
DOGE rises over 20% after Twitter news
On Sunday, Elon Musk shared some infographics related to the numbers of his newly acquired social network, as well as plans for the future. Among the new features coming to Twitter is a “Payments” section, and while there is absolutely no mention of Dogecoin (DOGE), fans of the popular memecoin saw a hint of its upcoming integration:
Slides from my Twitter company talk pic.twitter.com/8LLXrwylta
– Elon Musk (@elonmusk) November 27, 2022
As soon as Elon Musk tweeted, the DOGE resumed the bullish run it started at the end of October, rising 21% by mid-day:
DOGE price in hourly data
Since then, the hype has died down a bit and the price has recovered, but at the time of writing, the DOGE is still up about 6.5% since the Twitter news.
The real topics of Elon Musk’s tweet
In reality, Elon Musk has shared data on the social network that suggests that everything is going well since he took over. We learn, not surprisingly, that the company is hiring, but also that it would record a historical high (ATH) of new users and an ATH also on the daily minutes of activity. The latter figure is said to be eight billion in the past week, a 30% increase in one year.
Furthermore, hate messages on the network are said to be at an all-time low, while the number of ‘monetisable’ active users continues to rise. Of course, if all these figures seem positive, it is always possible to make the statistics speak for themselves. Especially since Twitter needs to improve its image given the current difficulties.
Among the new features to come, we note for example the upcoming arrival of encryption of private messages and a new format of tweets: long tweets. However, no date has been announced for these future implementations.
Coming back to the payments system, it should also be noted that the infographic shared by Elon Musk on this subject is left blank. Given that the company is reportedly working on its own wallet, is increasingly open to our ecosystem, and that Binance is also supporting it, it wouldn’t be surprising if these payments actually touch cryptocurrencies. But pending further information, everything else is speculation.
