Is Dogecoin at the Center of Twitter’s Plans?
The Dogecoin (DOGE) community is buzzing with discussions about Twitter’s future plans. The company, now known as X, is aiming to transform its microblogging platform into an “Everything app.” Many enthusiasts believe that DOGE could play a central role in X’s vision, thanks to Elon Musk’s connection to the meme coin project.
X’s Potential Features
In a video featuring X’s CEO Linda Yaccarino, she outlined several potential features for the platform. These include messaging, community discussions, support for calls, and even powering payments for online purchases and money transfers.
Elon Musk’s Love for Crypto
Elon Musk’s affinity for certain crypto projects, such as Dogecoin and Bitcoin, has led to speculation about X’s plans. However, neither Musk nor Yaccarino have made any statements indicating that X will support crypto payments.
Dogecoin’s Price Stability
Dogecoin has been exhibiting stability in its price, similar to Bitcoin. CoinDesk reports that DOGE is currently more stable than BTC, with an annualized 30-day realized volatility of 30% compared to BTC’s 35%. This is surprising considering Dogecoin’s historical volatility and reputation as a non-serious crypto project.
Not an Indicator of Superiority
However, this stability does not mean that Dogecoin is a better digital asset than Bitcoin. It may simply be a result of investors taking a back seat until the crypto market starts trending again.
Potential Bullish Fractal
The daily chart shows Dogecoin trading within a narrow range between $0.06 and $0.064. If this range holds, the sideways trading trend will continue. However, a bullish fractal may play out if bulls can uphold support at $0.06.
Buyers’ Control over DOGE
The bullish fractal, along with a buy signal from the Moving Average Convergence Divergence (MACD) indicators, suggests that buyers may take control of DOGE’s next direction. Some traders may wait for DOGE to break above the $0.064 resistance level before confirming an uptrend targeting $0.07 and $0.08 in the short term.
Hot Take: X’s Possible Integration with Dogecoin
With Twitter’s transformation into an “Everything app” and Elon Musk’s involvement with Dogecoin, there is speculation about a potential integration between X and the meme coin project. While nothing has been confirmed, it’s clear that DOGE has gained attention and stability in the crypto market. Whether it becomes a key part of X’s plans remains to be seen, but the community is eagerly watching for any developments.
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