Is Elon Musk Considering Dogecoin for X-Fee Transactions?
The proprietor of social media platform X, Elon Musk, is again with one other notable replace. In a latest announcement, Musk shared that X will begin charging a small charge to curb the rampant bot exercise on the platform, fueling the Dogecoin cost narratives to new ranges.
Tesla supremo Musk has lengthy been referred to as a staunch Dogecoin proponent and has proven his adoration for the token occasionally. The brand new announcement spurred an inflow of Dogecoin cost rumors, triggering hypothesis on whether or not Doge could possibly be one of many tokens that X might settle for within the close to future.
Dogecoin and X: What’s Taking place
The social media customers on X had a subject day yesterday after the announcement made by Tesla CEO Elon Musk. In a brand new flip of occasions, Musk shared that X will now begin charging a small charge to curb the rife bot exercise on the platform. Whereas some social media customers praised Musk’s charge determination, others had been famous expressing their skepticism, including how Musk is tanking X’s recognition by making rash selections.
Nevertheless, the event additionally gave start to a brand new speculative spree involving Dogecoin funds. Quickly after the announcement went viral on X, a number of social media fans began reposting the announcement with the hashtag #doge. The transfer was dubbed suggestive in nature, implying the opportunity of Musk contemplating doge for X charge funds.
Some customers had been fast to foretell Dogecoin’s integration with X. They claimed that Musk’s fondness for Doge might materialize by integrating the token as a cost possibility for this new charge narrative.
Musk’s Likeness for DOGE
This isn’t the primary time Musk’s tweet has sparked an array of speculations and rumors to unfold amuck.
The Tesla chief is understood to make Dogecoin-centric tweets which have not directly impacted Doge, pushing its worth to the touch new ranges. Musk had earlier expressed his intent to make use of Doge as a cost for X. The event led X customers to discover a number of use circumstances for Doge, together with embedding the token as the most recent cost possibility on X.
Value Evaluation
At press time, Dogecoin is up 0.15% within the final 24 hours.
Per CoinCodex, the token could shed 15% by Could 16, buying and selling at $0.13, denoting a bearish stance.
“The worth of Dogecoin could drop by -13.65% and attain $0.135422 by Could 17, 2024. Per our technical indicators, the present sentiment is bearish, whereas the Concern & Greed Index is displaying 67 (greed). Dogecoin recorded 14/30 (47%) inexperienced days with 12.55% worth volatility during the last 30 days.”