Ever looked at the future through the lens of tech magnates? Take a sign from Elon Musk‘s latest adventure of reinventing the microblogging site – Twitter. The expeditious transformation from a limited character social media platform to a pioneering super-app, newly christened “X”, is in gear.
Driven by AI, X promises to create a global marketplace for ideas, services, goods and opportunities, operating on an all-encompassing platform of video, audio, messaging, and banking. Not only has it metamorphosed into a new “X” logo, abdicating its long-cherished bird logo, but also has led to a whirlwind of conjectures around the medium of exchange to be used within the platform.
Musk’s aspiration of centring future Twitter payments around fiat currencies, with an added array of crypto functionality at a subsequent stage, has infused high anticipation. Swathes of X tokens, offering traders an appetizing prospect for quick profit, were created and launched on various DEXs this past weekend, some experiencing impressive spikes.
Let’s focus now on the potential showstoppers. Dogecoin (DOGE), the world’s largest meme coin and a decentralized cryptocurrency network, has had Musk’s endorsement for over two years. In fact, Musk’s association with Dogecoin has led to an upswing for the token in the past, especially when Musk took the reins at Twitter. Today, DOGE is trading around $0.074, with speculations of hitting a key resistance of around $0.10, given the continued wave of enthusiasm.
On the other end of the spectrum is Bitcoin or BTC. Despite Tesla’s temporary halt on accepting BTC payments over environmental concerns, BTC is steadfast on Musk’s radar. With BTC’s premier status in the crypto-market, it’s plausible that it would be integrated into any forthcoming Twitter/X payments platform.
Whilst Dogecoin holds potential for a leap, it’s still a speculative play, with the broader cryptocurrency market stuck in a slump. For traders open for higher risks, they might want to gaze upon some trendy crypto projects. For instance, BTC20, dubbed as ‘Bitcoin on Ethereum’, and Wall Street Memes’ $WSM token both have witnessed escalating favouritism. The BTC20 project has already raised $1.6 million in a short span, and the $WSM token presale has garnered nearly $17.5 million.
In the dynamic crypto arena, things remain uncertain. Nevertheless, it’s critical to recall that crypto remains a high-risk playground. While speculations may sometimes pay off, investors should always stay informed and discerning, being prepared for the potential of a complete loss.
Source: Cryptonews
