Dogecoin (DOGE) Grows 23% as Hype Around Twitter 2.0 Builds

The top dog memecoin DOGE is not fussed about crypto winter with 23% weekly gains.

Dog looing at a giant Twitter logo bird

The top dog memecoin Dogecoin (DOGE) recorded a green week in the midst of intense crypto winter. The healthy gains of 23% came after a couple of important updates in relation to Twitter. For instance, Elon Musk made several hints at DOGE’s integration into Twitter 2.0. It’s supposed to be a social hub powered by crypto and might even have a customized smartphone.

Twitter 2.0 Plans to Compete with Big Tech Names

Chief Twit Musk’s ambitious idea of creating a dedicated smartphone for Twitter 2.0 made waves after it was suggested by the host of the Liz Wheeler Show. Since Elon Musk’s Twitter Takeover, the 8th ranked memecurrency DOGE has seen a record amount of social mentions and a wider range of utility cases.

Recently, Mr. Musk shared slides from his Twitter meeting, revealing that Twitter’s sign-ups are also at an all-time high. An ambassador of uncompromised free speech, Elon Musk also claims that ‘hate speech impressions’ are at an all-time low. Ultimately, Samsung and Apple would need to watch their backs if the upcoming Twitter 2.0 app is restricted on their platforms. However, “I hope it does not come to that,” – says The Dogefather.

Will DOGE Become the Centrepiece of Twitter?

Within the first two weeks of the Twitter acquisition, the new boss laid off over 50% of staff and halted the Twitter Crypto Wallet idea. However, recent interviews and the Twitter Spaces appearance suggest that the wallet is back on track. Naturally, more big players in Crypto Twitter believe that DOGE is going to play a key role in it than ever before.

At press time, the top dog canine memecurrency is priced at $0.095381, according to CoinGecko. The correction of 7.8% on Monday indicates that DOGE might still be paying the piper in relation to the FTX fiasco. Besides, the drop in DOGE’s market price after the mini bull run has sent the memecoin back below the crucial $0.10 key support line.

Now, with Ethereum’s (ETH) founder Vitalik Buterin rumoured to be working together with Elon Musk on the Twitter Crypto Wallet, many crypto enthusiasts expect the canine coin to significantly contribute towards global crypto adoption.

On the Flipside

  • Twitter and Tesla CEO Elon ‘The Dogefather’ Musk had been slapped with $258 billion class action lawsuit earlier this year for building a DOGE pyramid.
  • Musk had also previously raised the alarm about the possible bankruptcy of Twitter.

Why You Should Care

Popular Japanese guard dog-themed memecoins SHIB and DOGE have the power to bring a lot of new investors and enthusiasts into the crypto sphere.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.