• Twitter recently announced a partnership with the social trading platform eToro, which will allow users to buy stocks and cryptocurrencies on eToro directly from the Twitter app.
• Following this news, Dogecoin (DOGE) spiked by more than 6%, reaching as high as $0.0877.
• Many Dogecoin enthusiasts interpreted Twitter’s move as Elon Musk’s latest effort towards integrating the meme coin into the social media platform.
Twitter and eToro Partner Up
Twitter recently announced a partnership with the social trading platform eToro, which will allow users to buy stocks and cryptocurrencies on eToro directly from the Twitter app. This was confirmed by eToro who said their $Cashtags partnership will enable Twitter users to get real-time data and charts about these assets.
Dogecoin Price Spikes
Following this news, Dogecoin (DOGE) spiked by more than 6%, reaching as high as $0.0877 according to CryptoSlate’s data. Many Dogecoin enthusiasts interpreted Twitter’s move as Elon Musk’s latest effort towards integrating the meme coin into the social media platform.
Musk’s Influence on DOGE
This is not the first time that Twitter’s actions and announcements have heavily influenced DOGE’s performance since Musk bought the platform in October 2022. The token reached as high as $0.14 in November 2022, riding on expectations of Musk’s plan for the asset. Its value also significantly spiked after the social media platform changed its logo to the Shiba Inu dog; DOGE rallied by more than 30% but soon crashed after Twitter restored its original logo..
Recent Developments
Recently, rumours have been circulating around Tesla possibly accepting payments in Dogecoin for its products, however nothing has been officially confirmed yet. Additionally, SpaceX could be planning on launching a satellite powered by blockchain technology which would be funded through Dogecoin donations from people all over world according to recent reports – again nothing has been officially confirmed yet but it does point towards increased adoption for cryptocurrency overall!
Conclusion
The developments surrounding twitter show us that we should keep an eye out for potential partnerships between platforms like twitter and crypto exchanges like Etoro – these partnerships can have an effect on prices of certain coins so they are worth taking note of!