WeBuy

A subtle change in Elon Musk’s Twitter bio after his platform’s rebrand to “X” has again fanned the flames of speculation that Dogecoin DOGE $0.08 may have a future on the platform.On 25th July, eagle-eyed Twitter (now X) users began pointing out that Elon Musk’s profile location now sports both an “X” and a “D”  with X referencing Twitter’s new branding, while D has been interpreted to mean Dogecoin, a memecoin he has been publicly supportive of in the past.Many observers, such as Real Vision CEO Raoul Pal, came to a similar conclusion, albeit with different reasoning. Also, in a tweet on 25th July, Pal said that Musk would most likely use Dogecoin to make global payments for creators on the platform. It is nothing that the eccentric billionaire already “owns a big chunk anyway” and “he likes it.”Twitter’s rebrand to X came with little warning on July 24, officially making the crossover at 10 am UTC. Musk’s reference to Dogecoin and the resulting speculation managed to score a small price gain for the memecoin, which rose as high as 5%, according to data from TradingView. It is currently trading at $0.07, up 9.5% over the last seven days.In emailed comments to Cointelegraph, eToro market analyst Josh Gilbert said that while the rebrand may provide a short-term rally for Dogecoin, Musk’s move could also yield significant impacts for the crypto market in the long term. Gilbert also explained that it does have implications for crypto in the short-term as it moves markets. But its in the long-term as Musk looks to build out payment networks using his own platform that could soon compete with the likes of Ethereum, Bitcoin or others.Last thing Gilbert said was that the market reads the sea leaves Musk’s choices. It is better for investors not to become distracted by short-term events and focus on the longer and wider trends. So, that&#39;s a wrap for today’s WedNewsDay, we hope you all enjoy the read! Stay tuned for next week’s WedNewsDay and don’t forget to follow our social media accounts. Thank you!Follow us onWebsite | <a href="https://werentnft.io/" rel="noopener noreferrer nofollow">https://werentnft.io/</a>Instagram | <a href="https://www.instagram.com/werent_nft/" rel="noopener noreferrer nofollow">https://www.instagram.com/werent_nft/</a>Twitter |<a href="https://twitter.com/WebuyOfficial" rel="noopener noreferrer nofollow"> </a><a href="https://twitter.com/WerentOfficial" rel="noopener noreferrer nofollow">https://twitter.com/WerentOfficial</a>Medium |<a href="https://medium.com/&#64;webuynft" rel="noopener noreferrer nofollow"> </a><a href="https://medium.com/&#64;werentnft" rel="noopener noreferrer nofollow">https://medium.com/&#64;werentnft</a>Facebook | <a href="https://www.facebook.com/werentnft" rel="noopener noreferrer nofollow">https://www.facebook.com/werentnft</a>Youtube | <a href="https://www.youtube.com/&#64;WeRentNFT" rel="noopener noreferrer nofollow">https://www.youtube.com/&#64;WeRentNFT</a>

A subtle change in Elon Musk's twitter bio made a big deal!

WeRent

Alte articole publicate pe 26 iul. 2023

Federal Reserve’s anticipated decision and potential impact on crypto markets

JPM Stock Price Prediction: Will JP Morgan Stock Price Sustain..?

PancakeSwap Releases Farms on Polygon-based zkEVM to Innovate User Experience

US Democrats Challenge Crypto Bill, Signal Potential Consensus On Stablecoin Rules

LTC Drops Below $90 as 7 Days to Litecoin Halving, A Pullback Expected?

SHIB Giveaway Announced: SHIB Holders To Get Free Tokens

Join our free newsletter for daily crypto updates!