• Elon Musk is set to integrate cryptocurrency payments into his Twitter platform, X, with many speculating that Dogecoin will be at the center.
• Tesla has already integrated Dogecoin into its website and allowed customers to use it for certain purchases.
• There are accusations of price manipulation from some investors, who claim that Musk has been propping up DOGE through his Twitter account and then dumping it for a profit.
Elon Musk’s Interest in Dogecoin
Dogecoin (DOGE) was initially created as a joke by Jackson Palmer and Billy Markus in 2013, but has since become a serious cryptocurrency. This success owes much to world’s richest man, Elon Musk’s interest in the altcoin. He has proclaimed himself “The Dogefather” and Tesla allows customers to use DOGE for certain purchases on its website. However, there are ongoing allegations of price manipulation related to DOGE due to the billionaire’s influence in the market.
Integration of Cryptocurrency Payments into X
Elon Musk is set to integrate cryptocurrency payments into his Twitter platform, X (formerly known as Twitter). While many speculate that Dogecoin would be at the center of this payment structure, other memecoins such as Shiba Inu have come under intense pressure from up-and-coming memecoins. It remains far more successful than its competitors though.
Price Manipulation Allegations Against Elon Musk
Some investors have accused Elon Musk of accumulating large amounts of DOGE before propping up the project through his Twitter account and then dumping them for a greater profit. His lawyers insist that the said wallets do not belong to him though. Despite calls for transparency on this matter, most investors remain concerned about what effect this accusation could have on Elon Musk’s support for the project if proven true or false.
Will Dogecoin Become Native Currency To X?
If implemented successfully, integrating cryptocurrency payments into X could create an incredible investment opportunity with Dogecoin at its center stage. Recently announced plans make it clear that X will function like WeChat – allowing users access financial services and process payment transactions among other activities using their accounts.. As such, this native currency of X may very well be Dogecoin (DOGE).
It remains unclear how things will pan out with regards to these allegations against Elon Musk and whether they will bear any effect on his support towards Dogecoin going forward. Meanwhile, integration of crypto payments into X could spell great news for DOGE if it becomes its native currency – creating an unprecedented investment opportunity within the crypto market space in coming months