Investors in Dogecoin are optimistic that Musk’s concept for Twitter 2.0 will include some type of DOGE integration.
Elon Musk, the billionaire entrepreneur, has revealed his intention to integrate payments into what he calls Twitter 2.0 — “The Everything App,” fueling a brief 19.4% price increase for meme-inspired cryptocurrency Dogecoin (DOGE).
In a Nov. 27 tweet to his 119.2 million followers, the new Twitter CEO announced his objectives, including numerous slides from a recent “Twitter company talk.”
Slides from my Twitter company talk pic.twitter.com/8LLXrwylta— Elon Musk (@elonmusk) November 27, 2022
While Musk made no mention of DOGE in the tweet or the accompanying slides, several investors appeared to be hoping that Dogecoin would be engaged in some manner.
Payments 😋 in Dogecoin? @elonmusk #doge 👀👀 pic.twitter.com/DVn93nfdeg— Gail Alfar (@GailAlfarATX) November 27, 2022
According to CoinGecko statistics, Dogecoin’s price jumped 19.4% from $0.089 to $0.107 in the hours following the tweet before settling at $0.096 at the time of writing.
Musk’s idea for Twitter 2.0 also includes “Advertising as Entertainment,” “Video,” “Encrypted DMs,” “Longform Tweets,” and “Relaunch Blue Verified.”
According to the data in the slides, Musk’s takeover of the company has already had an impact, with the social media platform reaching an all-time high in terms of “new user signups” and “user active minutes,” which were up 86% and 30%, respectively, over the last week compared to the same seven-day period in 2021.