$DOGE rose for the second consecutive day as speculations of the tokens playing a bigger role on the newly-rebranded Twitter platform rose among crypto traders, fueling a price rally. By shauryamalwa.
Dogecoin rose for the second consecutive day as speculations of the memecoin playing a bigger role on the newly-rebranded X platform, fuelled the rally.DOGE surged as much as 10% to over 7.7 cents in the past 24 hours, with trading volumes at $2.3 billion. Most of these volumes came from the South Korean exchange UpBit – known for attracting speculative plays – against the Korean won trading pair.
“The speculation is that advertisers could be able to pay DOGE for ads and for other uses on Twitter,” Kryptomon Chief Marketing Officer Tomer Nuni explained to CoinDesk in a Telegram message. “We have seen the same happening when Tesla revealed the ability to pay for its goods with DOGE. So the speculation could be around Musk’s businesses and stakeholdings starting to accept crypto, as Tesla does,” Nuni added.
Such speculations aren’t all unfounded. In April, Musk teased DOGE payments on Twitter in a tweet, proposing dogecoin as one of the payment options for Twitter Blue, the site’s subscription service with premium features.for merchandise purchases on the Tesla Store, and a repeat could be on the cards.
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