Dogecoin, Elon, and Twitter. To the moon?

Key Points

  • Elon is by far Dogecoin’s biggest asset and I suspect his endorsement is responsible for the elevated ranking Doge continues to hold among cryptocurrencies.
  • His acquisition of Twitter will only make his sway even more impactful.
  • As the Elon sphere grows and his cult floods the earth with dry memes, Doge may rise.

Doge has a long history in the crypto space, it began as a bitcoin fork used for tipping in the early gaming space. It gained notoriety in 2021 as the king of meme coins in a world of Binance chain doo-doo.

Doge’s meteoric rise during the 2021 bull run made it the biggest pump and dump in human history. 80 billion dollars in value came and went and none of it could have been possible without Elon Musk. 

Doge currently sits at around 13 cents and has oscillated in this range since February 2022 thanks to degenerate short-sellers and moon boys with an ax to grind. It’s a Hard-Knock Life for Doge holders who have relied on the market to keep Dogecoin from sinking away like the Dino coins of 2017. 

But is it over for the Doge? Well, with Elon’s acquisition of Twitter, a world of new possibilities is open to Doge. Doge’s close association with Elon makes it a prime candidate for Twitter’s tipping feature. Twitter’s tipping feature currently only supports web 2.0 payment services such as Venmo and Stripe.

Moving forward, I think there’s no doubt Elon will seek to integrate web 3.0 into Twitter’s systems. 

What will a web 3.0 integrated Twitter look like? Will it be associated with Doge? Will it include any decentralized cryptocurrencies?

It’s hard to say, but Web 3.0 integration of Twitter isn’t limited to only tipping and cryptocurrencies.

There are ways to integrate Twitter into the blockchain. For example, tweets could be cemented onto the blockchain and owned to be sold as NFTs, decentralised KYC systems could be used to stop the usage of bots by outside agitators. There is a world of ways to integrate web 3.0 into Twitter and knowing Elon and his ability to attract the world’s best engineers, there’s no doubt he’s looking into the idea now.

Elon is by far Dogecoin’s biggest asset and I suspect his endorsement is responsible for the elevated ranking Doge continues to hold among cryptocurrencies.

His acquisition of Twitter will only make his sway even more impactful.

As the Elon sphere grows and his cult floods the earth with dry memes, Doge may rise.

Nevertheless, without an outright integration with Twitter, I suspect Doge’s future will largely be sideways.

On the other hand, if Doge does get Twitter integration then to the moon it is.

Disclaimer: The views in this article are not the official view of PIF and represent only the author.

To follow PIF’s various portfolios consider becoming a PIF member.

Sign up for our newsletter and receive our “Beginner’s Guide to Halal Investing in Stocks” for FREE!

Enter your email address to subscribe:*