Will Elon's Plans For Dogecoin in Twitter Send it New ALL TIME HIGHS?

Google searches for "Buy Dogecoin" and "How to Buy Dogecoin" increased by over 300% on the day Musk and Twitter announced they had reached an agreement. Likewise, the search term "What is Dogecoin?" was up by nearly 250%.

Which is already a bit funny - more people were looking for info on buying it than info on Dogecoin itself, which tells us that after this past year, most people know what it is. 

Twitter already has a subscription option called 'Twitter blue' that doesn't offer much benefit, just some additional customization (layout, colors) and removes ads from articles read through the Twitter app. 

Musk seems to be proposing using this as a starting point, then allowing paid subscribers to verify their identity, getting that blue checkmark. For this, he has said that Twitter should accept users' monthly fees in Dogecoin (as well as all the usual payment methods). 

DOGE's die-hard supporters see many more places where their favorite coin can fit into Musk's vision for Twitter.

Twitter offers monetization options, such as select accounts being able to run ads on their videos or live streams. People can put locked content on their profiles that only paid subscribing followers are able to view, and virtual live events can sell virtual 'tickets' to attendees. 

In a perfect world, Doge would be an option for all of these transactions - BOTH ways.

One DOGE supporter on reddit pointed out: Twitter is global. Why deal with countless national currencies when you can get everyone on the 'doge standard'?

The reason it isn't so farfetched: Musk just spent a lot of his own money, and risked even more in Tesla stock to make this happen. He put up billions of dollars' worth of Tesla shares as collateral, then took out loans to cover the rest. 

Also keep in mind that he wants to take Twitter private, - meaning Twitter will no longer be tradeable on the stock market.  While that makes a huge difference in the amount of control he will have as the company owner, it also means if his plan is successful, there won't be any stock rising in value along with it to give him another source for billions on demand like he has with Tesla.

So, while there may not be Twitter stock on the market - he probably does have a huge stash of DOGE, which would be trading 24/7 with or without him. He's never stated how much he owns but keep in mind that a billionaire investing millions is like an average person investing hundreds. Would you still have bothered to join an exchange if your budget to invest was under $100? Probably not.

With all this in mind, and assuming he is sitting on a fairly large stash of DOGE - there's no reason for him to pass up the opportunity to send Doge's price soaring - legally too.  Musk knows to stay away from telling people to 'invest' in Dogecoin, or even hint that people will make a profit. 

If he uses Twitter to create more ways to use Dogecoin and draws attention to them, the press will take it from there.  I can already imagine hundreds of articles along the lines of "The next Bitcoin?! The Crypto Coin Elon Musk Is Obsessed With?" - and while it isn't the next bitcoin, it still may have some surprises of its own for us soon.

------- 

Author: Justin Derbek
New York News Desk
Breaking Crypto News

View Details

Will Elon's Plans For Dogecoin Usage within Twitter Send the Coin To New ALL TIME HIGHS?

Google searches for "Buy Dogecoin" and "How to Buy Dogecoin" increased by over 300% on the day Musk and Twitter announced they had reached an agreement. Likewise, the search term "What is Dogecoin?" was up by nearly 250%.

Which is already a bit funny - more people were looking for info on buying it than info on Dogecoin itself, which tells us that after this past year, most people know what it is. 

Twitter already has a subscription option called 'Twitter blue' that doesn't offer much benefit, just some additional customization (layout, colors) and removes ads from articles read through the Twitter app. 

Musk seems to be proposing using this as a starting point, then allowing paid subscribers to verify their identity, getting that blue checkmark. For this, he has said that Twitter should accept users' monthly fees in Dogecoin (as well as all the usual payment methods). 

DOGE's die-hard supporters see many more places where their favorite coin can fit into Musk's vision for Twitter.

Twitter offers monetization options, such as select accounts being able to run ads on their videos or live streams. People can put locked content on their profiles that only paid subscribing followers are able to view, and virtual live events can sell virtual 'tickets' to attendees. 

In a perfect world, Doge would be an option for all of these transactions - BOTH ways.

One DOGE supporter on reddit pointed out: Twitter is global. Why deal with countless national currencies when you can get everyone on the 'doge standard'?

The reason it isn't so farfetched: Musk just spent a lot of his own money, and risked even more in Tesla stock to make this happen. He put up billions of dollars' worth of Tesla shares as collateral, then took out loans to cover the rest. 

Also keep in mind that he wants to take Twitter private, - meaning Twitter will no longer be tradeable on the stock market.  While that makes a huge difference in the amount of control he will have as the company owner, it also means if his plan is successful, there won't be any stock rising in value along with it to give him another source for billions on demand like he has with Tesla.

So, while there may not be Twitter stock on the market - he probably does have a huge stash of DOGE, which would be trading 24/7 with or without him. He's never stated how much he owns but keep in mind that a billionaire investing millions is like an average person investing hundreds. Would you still have bothered to join an exchange if your budget to invest was under $100? Probably not.

With all this in mind, and assuming he is sitting on a fairly large stash of DOGE - there's no reason for him to pass up the opportunity to send Doge's price soaring - legally too.  Musk knows to stay away from telling people to 'invest' in Dogecoin, or even hint that people will make a profit. 

If he uses Twitter to create more ways to use Dogecoin and draws attention to them, the press will take it from there.  I can already imagine hundreds of articles along the lines of "The next Bitcoin?! The Crypto Coin Elon Musk Is Obsessed With?" - and while it isn't the next bitcoin, it still may have some surprises of its own for us soon.

------- 

Author: Justin Derbek
New York News Desk
Breaking Crypto News

View Details

Elon Musk Backs Dogecoin Upgrade, Claiming It Could Outperform Other Coins 'Hands Down'...

Musk, apparently browsing Dogecoin chatter on Twitter saw one user say the upgrade "helps secure the network and lower the transaction fees" triggering a response from Musk, saying he sees this as "important".

The thread continued to outline how the dogecoin upgrade will improve the network, saying there's currently only 205 computers "running the newest update" and "more nodes need to upgrade."

In another recent reply to another tweet about Dogecoin getting an upgrade, Musk shared his view on what that upgrade would do "There is merit to doge maximizing base layer transaction rate and minimizing transaction cost with exchanges acting as the de facto secondary layer". 

The tweet he was replying to stated that this "will position doge perfectly to become one of the most used currencies in the world."

The end result, according to Musk "Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down."

Considering Musk once polled the question 'Do you want Tesla to accept Doge?' - it's not out of the realm of possibilities that once a Dogecoin upgrade was complete, this is how he would show his approval.   

Remember, it was Tesla accepting Bitcoin that set off Bitcoin's biggest bull run of this year - what effect would this have on the world's biggest memecoin? 

There's a growing group of people set on turning a coin that started as a joke into a legitimate cryptocurrency - at what point does it cross over, and 'memecoin' is no longer an accurate label? 

------- 
Author: Justin Derbek
New York News Desk
Breaking Crypto News

View Details

Dogecoin Alert: Why December 5 Is A Game-Changing Date For Price

After surging over 330% in a six-week span, Dogecoin (DOGE) has been navigating a period of consolidation, maintaining a sideways trajectory for the past three weeks. This remarkable rally was initially propelled by speculative bets on Donald Trump’s victory in the US presidential election, colloquially referred to as the Trump trade. Following Trump’s electoral success, the momentum was sustained by the establishment of the Department of Government Efficiency (DOGE), spearheaded by Elon Musk, a prominent advocate within the Dogecoin community. December 5 Could Be A Major Catalyst For Dogecoin The crypto market is now anticipating a pivotal week for Dogecoin, centered around a significant event scheduled for December 5th in Washington, DC. On this date, Elon Musk and Vivek Ramaswamy are set to address members of Congress, presenting key proposals under the auspices of the Department of Government Efficiency. This development could have a substantial impact on the Dogecoin price. Related Reading: Dogecoin Boom Over? Crypto Analyst Warns Of Sudden Sell Signal The Department of Government Efficiency, abbreviated as DOGE, has been instrumental in shaping Dogecoins recent price movements. Under Musks leadership and with support from Donald Trump, DOGE aims to streamline government expenditures and enhance operational efficiency within federal agencies. The mere announcement of this department, coupled with its association with influential figures like Musk and Trump, has ignited significant speculative activity around Dogecoin, leading to pronounced price fluctuations. Historical data underscores the department’s influence on Dogecoin’s valuation. The announcement of Musk’s appointment to lead DOGE resulted in a 15% increase in DOGEs price. This surge was further amplified by an additional 120% rise within a week, following endorsements and activities related to the initiative. Moreover, Dogecoin experienced a further 10% uptick as DOGE gained traction through extensive discussions on social media and Musks financial contributions to related political actions. These price movements are a direct reflection of the heightened trader speculation and public interest driven by media coverage and Musks active promotion of the Department of Government Efficiency. The upcoming December 5th event marks a critical juncture for Dogecoin. According to a CNBC report, House Speaker Mike Johnson of Louisiana announced that Musk and Ramaswamy will meet with Republican congressional leaders to discuss major reform ideas aimed at achieving regulatory rescissions, administrative reductions, and cost savings. Johnson stated, The entrepreneurs will discuss major reform ideas to achieve regulatory rescissions, administrative reductions, and cost savings with GOP lawmakers. Related Reading: Dogecoin Bullish Takeover: DOGE To Outperform Bitcoin By 2,400% Heres How Musk and Ramaswamy have articulated an ambitious agenda for DOGE, including significant reductions to the federal workforce and the closure of numerous federal agencies and regulators. In a recent Wall Street Journal op-ed, they articulated their intent to eliminate expenditures that are unauthorized by Congress, and to curtail federal funding for entities such as the Corporation for Public Broadcasting, several international organizations, and Planned Parenthood. Furthermore, Musk proposed that the White House should delete the Consumer Financial Protection Bureau, an independent agency tasked with overseeing financial institutions. However, the implementation of these proposals is contingent upon congressional approval, given that the House holds authority over the appropriation of federal funds to agencies. The forthcoming meeting on December 5th signifies the Republican leadership’s serious consideration of Musk and Ramaswamys initiatives. The implications for the Dogecoin price are multifaceted. The convergence of governmental initiatives and high-profile endorsements by Musk has heightened DOGEs visibility within the broader public sphere. Increased trading volumes and speculative trading activity are to be expected as investors closely monitor the outcome of the December 5th meeting. At press time, DOGE traded at $0.41. Featured image created with DALL.E, chart from TradingView.com

View Details