Twitter’s (X) Potential Integration of Dogecoin Sparks Speculation

On July 25, sharp-eyed users on Twitter (now X) noticed that Musk’s profile location displayed both an “X” (symbolizing Twitter’s new branding) and a “D,” which many interpreted as a nod to Dogecoin—a memecoin he has openly shown support for in the past. This discovery has further fueled rumors and discussions among the online community.

Real Vision CEO Raoul Pal also arrived at a similar conclusion, though his reasoning differed. In a tweet on July 25, Pal speculated that Elon Musk might employ Dogecoin for facilitating global payments to content creators on the platform. He pointed out that Musk already holds a significant portion of Dogecoin and has displayed a fondness for the cryptocurrency in the past. With these factors in mind, Pal surmised that Musk’s affinity for Dogecoin could lead to its utilization in enabling transactions for creators worldwide.

When questioned about why Elon Musk wouldn’t develop his own platform-specific token for these payments, Pal put forth the idea that using Dogecoin could potentially help Musk bypass securities laws, thus offering him a path with “zero execution risk.”

On July 24, Twitter’s sudden rebranding to X took place with minimal prior notice, officially transitioning at 10 am UTC. Musk’s inclusion of a reference to Dogecoin in his Twitter bio, and the subsequent speculation it triggered, resulted in a slight price increase for the memecoin. According to data from TradingView, Dogecoin saw a rise of up to 5% as a consequence of these events.

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