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Twitter CEO Elon Musk shared insights from recent company talk. He shared several crucial figures representing the growth of the social media giant. Musk also shared highlights of highly anticipated Twitter 2.0. In most part, the slides contained the recent developments along with the future outlook in the form of Twitter’s updated features. Dogecoin (DOGE) community received an indirect signal out of the post resulting in a momentary jump of the meme coin price.
On 27th November 2022, Musk went on to Twitter and posted several “slides from Twitter company talk.”
The three-part first slide consisted of recruitment notification along with highlighting the all-time high attained in terms of new user signups and user active minutes on Twitter. It also showcased the mDAU reaching a significant number while hate speech and impersonification reports were on decrease.
Twitter 2.0 Bringing Upscale in Features
In addition, the slides showcased the features of Twitter 2.0—primarily reangling existing features with several others added. Twitter 2.0 could be clearly seen being touted as ‘the everything app’. Its features included having advertising options, video and encrypted messages options. The platform would be facilitating longform tweets and relaunched blue verification regime. Twitter 2.0 is also said to have payments functionality over the platform.
Evidently whenever Twitter has seen an update or any crucial information related to the company released, the broader crypto market, especially Dogecoin (DOGE). Simply because of the Tesla CEO Elon Musk connection.
This time around, the meme coin community got excited after getting the indication of Dogecoin (DOGE) payments on Twitter. Although there was no mention of adding any crypto payment option over the social media platform. Still DOGE price witnessed an uptick for a short while.
Dogecoin Price Showed Short Term Rally
Dogecoin (DOGE) was reported to surge over 19% from its contemporary trading price, from about 0.89 USD to 0.107 USD. The surge did not last for long and prices settled back down. At the press time, DOGE is trading at 0.96 USD, up by more than 25% in the last seven days.
Although there is no clear indication of adding the meme token over the social media platform as payment option, industry experts registered their concerns. Co-founder of blockchain software company Jelurida, Lior Yaffe said that If Twitter intends to build a payment system then it could choose blockchain solutions better than Dogecoin.
Co-founder and CEO of dex platform TideFi, Daniel Elsawey said that the memecoin could not interact with smart contracts. It should be only used as an option for payment only.
At the time of Twitter’s takeover by Elon Musk during October end, DOGE price showed positive response and surges up to 40%.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
