Elon to Integrate Dogecoin Into Twitter?
Popular Youtube channel Coin Bureau’s host looks into the potential of Dogecoin to
be fit for real-world use cases thanks to DOGE-lover Elon Musk’s Twitter takeover.
A new video update of the pseudonymous Coin Bureau talks about the onset of a
new era for DOGE as Musk “freed the bird.” He tells his 85,900 subscribers that the
reason why all the Bitcoin HODLers are less likely to spend their BTC on Twitter is
that Bitcoin is digital gold. And according to Gresham’s Law, people are less likely to
spend something they deem more valuable.
On the other hand, the sheer abundance of DOGE translates to the willingness of
people to spend it rather than hodling it. Moreover, not only DOGE but using any
cryptocurrency over fiat currencies has many advantages. To start off, Twitter will be
exempted from setting up dozens of specific payment gateways across the world for
people to use an internet-based currency that is freely available.
DOGE is quite popular, and most exchanges support it. It is widely recognized, and
although people may be unaware of the ins and outs of it, they are aware of its
existence at the very least.
Also, given the low price of DOGE’s ticker, people new to crypto would be more
comfortable using it than the unwieldy BTC. Guy, while exploring the use cases for
DOGE on Twitter, speculates that it could be used to pay for the premium user blue
check, similar to a subscription service, to ease the platform’s reliance on ad
Guy says that all these factors and more combined produce DOGE’s current price
pump. However, although DOGE went over 133% in the last seven days, Guy says
DOGE is seemingly overbought, and its rally might be ready to crumble.