- The crypto community thinks DOGE may become an official utility token on Twitter.
- A crypto enthusiast said Musk should partner with fraud-proof payment like FlexaHQ.
- Previously, an engineer hinted that Twitter was working on a crypto wallet prototype.
As the father of Dogecoin (DOGE), Elon Musk, takes over the social networking platform Twitter, the crypto community speculates on the likelihood of the meme token becoming an official utility token on Twitter.
Yesterday, the founder of the Cardano Blockchain, Charles Hoskinson, tweeted that he could see the possibility that DOGE would somehow merge with the Twitter platform now that Twitter is in the hands of Elon Musk.
Hoskinson’s comment may imply that companies running business campaigns on Twitter could be paying for advertisements via the meme token. A crypto enthusiast added that the new billionaire owner of Twitter could partner with fraud-proof payment processors like FlexaHQ and Amptoken Foundation to facilitate those DOGE payments on the backend.
A few days back, frontend engineer Jane Manchun Wong tweeted that Twitter was working on a wallet prototype that supports crypto deposit and withdrawal. Although there is no official notice or comment from the company to bolster her claim.
Interestingly, when asked whether the Dogecoin blockchain would migrate to the proof-of-stake consensus, Cardano (ADA) founder offered to do the migration for free, adding that it should be an ADA sidechain.
Since Musk took the mantle of leadership on Twitter this week, investments in the most popular meme token have skyrocketed. Of all the top ten crypto tokens, the price of Dogecoin appreciated over 47% in the last seven days.
DOGE currently trades at $0.08606, with a whopping 15% increase in the previous 24 hours. Against Bitcoin (BTC) and Ethereum (ETH), it gained over 12% within the same period.
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