David Gokhshtein, founder of Gokhshtein Media, predicts the use of Dogecoin (DOGE) on Twitter. This time, DOGE didn’t get pumped in the words of Tesla CEO Elon Musk. Why did the altcoin price not react?
“DOGE will be the first currency used on Twitter”
The same thing came to mind when Tesla CEO Elon Musk, a Dogecoin (DOGE) fan, officially took over Twitter. Many people said on Twitter that DOGE will be added as a payment option. One of them was David Gokhshtein, the founder of Gokhshtein Media. Gokhshtein reiterates DOGE’s statement that it will become Twitter’s currency.
DOGE will be the first currency used on Twitter when Elon launches the payment system for the platform. I think he likes to troll BTC.
$DOGE will be the first currency used on Twitter when Elon rolls out his payment system for the platform.
I think he loves trolling BTC.
— David Gokhshtein (@davidgokhshtein) November 13, 2022
cryptocoin.com As you follow from Elon Musk, on October 28, when he bought Twitter, Gokhshtein shared, “Twitter’s official currency is DOGE.” In a recent tweet, Gokhshtein claims that when Elon Musk launches the payment system for Twitter, Dogecoin will be the first currency to be used on the social media network. He cites Elon Musk’s statement that he is working on Dogecoin to mean Twitter integration. In this context, Gokhshtein made the following statement:
Elon’s actually ‘Dogecoin to the Moon!’ I’m surprised you said it! He also stated that he enters BTC, ETH and obviously DOGE. He said you should have them in your cold wallet, not on an exchange. He said he was working on DOGE. Here’s what I believe means to integrate it into Twitter.
Tesla boss Elon Musk informed listeners that he is working on Dogecoin while holding a live conference on Twitter Spaces. Also “Dogecoin to the Moon!” yell.
Elon Musk’s vision for Twitter payments
For the first time since Elon Musk took over the firm, he made plans for Twitter’s business. Here he discussed Twitter’s vision for processing payments. Meanwhile, Twitter took a step forward by filing registration paperwork to clear the way for getting paid. Accordingly, the Financial Crimes Enforcement Network or the Treasury Department’s FinCEN applied. However, in its current form, Elon Musk did not directly mention Dogecoin in his proposed Twitter payments scheme. Therefore, explanations and predictions remain only speculation.
Why didn’t the altcoin price explode?
Elon Musk’s comments yesterday did not significantly increase the price of the altcoin, which seems to bode well. So, while the whimsical billionaire held a live conference on Twitter Spaces, he assured listeners that he was working on the future of Dogecoin. She also exclaimed the expression, which became a meme. After these words, the altcoin price increased by almost 14% in two hours. But momentum was sold out and did not gain further traction.
DOGE price / Source: CoinMarketCapWhy is this a good sign? The truth is that every single DOGE pump before has heralded a major correction in the crypto market. Of course, it cannot be called a pattern. Dogecoin is up 100% or more in late October due to Musk’s acquisition of Twitter. However, that was a week before the FTX stock market crash. After the crash, investors and traders preferred to stay away.
The fact that DOGE was not sufficiently impressed by Musk’s statements also makes sense in describing the current crypto market environment. It seems clear that the market is exhausted. Vendors were exhausted after the FTX collapse. Buyers are often intimidated and stick to ‘wait-and-see’ tactics.
