Business

Twitter Reportedly Stops Development on Crypto Wallet, Causing Dogecoin to Drop 10%

Published

on

After Elon Musk took over Twitter, DOGE prices spiked as investors anticipated he might push for crypto-friendly policies.

According to the report, Twitter has ceased its plans to construct a cryptocurrency wallet due to recent changes enforced by its new owner, Elon Musk. 

Tesla CEO and billionaire entrepreneur Elon Musk have been a major advocate for the popular meme coin, and its price has consistently reacted to his activities and pronouncements. In the aftermath of recent news about Musk acquiring Twitter, Dogecoin (DOGE) took a nearly 10% dive. 

DOGE prices have significantly increased in the past week after Musk completed the deal. The price is now the highest it has been since April. People are optimistic that Musk might do things to make crypto-currencies more popular on Twitter.

Last week, Musk fired Twitter’s CEO and other senior executives after making it clear he wanted to change the company’s trajectory. And it is predicted that the company will fire nearly half of its employees. As of now, we have not received a response from Twitter about their plans for a cryptocurrency wallet after our request for comment.

Exit mobile version