A trader (Bluntz) who goes by the handle SmartContractor on Twitter mentioned in a recent thread that Dogecoin might soon be integrated into the social media giant. Dogecoin has been rallying over the last 7 days in anticipation of the integration.
Bluntz highlighted that it is looking like a high accumulation time for DOGE. However, he also mentioned that such a clean accumulation has never occurred in a long time. The trader also added that if DOGE goes up, it is unlikely to come down and give people a chance to get in.
Furthermore, Bluntz went on to state that Elon Musk has a reported plan to incorporate DOGE into every tweet. It is a part of his vision of a blockchain-based Twitter where tweets will be embedded in the transaction as comments. The messages were a part of his conversation with Sam Bankman-Fried (SBF), the founder of the crypto exchange FTX.
As per the details from the conversation between Musk and SBF, it is also reported that users have to pay 0.1 DOGE per comment or repost. The recent tweet by Musk was also mentioned as a hint at the possible integration of DOGE on the platform.
To add to all of this, Musk recently posted an image of a dog with a Twitter t-shirt and a pumpkin with a Twitter logo carved. Following the tweet, Dogecoin and Shiba Inu surged by 22% and 6%, respectively.
However, it seems like the rally is over, as DOGE is currently trading at $0.1444. From a 24-hour low of $0.1151, DOGE surged in price when it touched $0.1474. SHIB also put out a short rally with over 8% gains. It is currently trading at $0.00001287.
It should be noted that Musk is a visionary and is likely to incorporate DOGE into Twitter. If that happens, DOGE will have a utility and is likely to soar in price.
The post Elon Musk Latest Tweet Triggers Another Dogecoin Rally appeared first on Coin Edition.
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Source: Cryptocurrency - investing.com
