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Elon Musk Officially Denies X Coin, But What About Dogecoin (DOGE)?

Thu, 08/31/2023 - 13:45
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Gamza Khanzadaev
Tesla and SpaceX founder says 'no' to X coin, ignites debate over DOGE's future
Elon Musk Officially Denies X Coin, But What About Dogecoin (DOGE)?
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Elon Musk, the billionaire magnate behind X (previously Twitter), has put to rest ongoing rumors about an internal token for the platform. Responding to speculations on the potential "X coin" designed to reward creators, Musk's brief response of "no" has provided clarity on the matter.

The inception of these token rumors traces back to the days of Twitter, before its transition to X. Back then, keen-eyed enthusiasts had uncovered code fragments suggesting the platform's intention to introduce a proprietary digital currency. However, the rebranding of the platform and change in ownership led to the shelving of these plans.

If DOGE Is Ever Integrated on X App, It May Be Far Bigger Than Just That, Here's Why

Musk's response has garnered attention, particularly from the cryptocurrency community and ardent supporters of Dogecoin (DOGE). Since Musk took charge of X, there have been persistent talks of integrating DOGE as a native currency. This recent interaction has revived these discussions, leaving room for further speculation.

What happens next?

Notably, Musk's reply was confined to inquiries about the "X coin" and did not extend to other related topics. This has left a lingering question: does this denial encompass a broader rejection of token-based transactions for X, or could DOGE still be considered for this role?

As the implications of Musk's statement continue to unfold, crypto enthusiasts await more insights into the financial direction of X. Uncertainty surrounding the fate of DOGE and its potential integration with the platform has become a focal point for ongoing conversations and deliberations.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.