• Elon Musk denied the rumors of a new coin for X created by Twitter.
• Dogecoin fans were relieved to hear that no new token would take Dogecoin’s place in the grand scheme of an all-in-one application.
• Crypto traders deemed Dogecoin’s integration into X unlikely when Linda Yaccarino joined the team, but speculation has been sparked due to her following SHIB Token’s official account.
Elon Musk Denies Making New Coin for X
Elon Musk replied to Doge Designer on Twitter, refuting any affiliation between $TWITTER and $X scam cryptocurrencies. No native crypto token is planned or in progress, which relieves the Dogecoin community as they could have faced displacement from their prominent role in the all-in-one application.
Dogecoin Continues Trading
Dogecoin has continued trading in a descending triangle since last month and holds at seven cents after double digit gains over a solid month of trading. The top canine coin traded at a seven day high of $0.079555 on July 31st before correcting back to $0.074104 according to CoinGecko at press time – suggesting indecision between bulls and bears despite positive trends across August thus far.
Linda Yaccarino Joins Team
When Linda Yaccarino joined the team, crypto traders deemed Dogecoin’s integration unlikely due to her lack of experience with crypto assets – but speculation was sparked when she began following SHIB Token’s official account, leading many to believe that integration is now more likely than previously thought.
Memes Onboard Folks
Doge Army members have responded with light-hearted memes linking $DOGE to X, hoping it will be chosen as the centerpiece of its financial system due to its popularity amongst meme enthusiasts and those who ‘invest’ for fun rather than profit seeking reasons; “memes are the best way to onboard folks” explains DOGE holder ItsAllRisky .
Boosting Crypto Adoption
If Dogecoin is chosen as an integral part of X’s financial system , it could significantly boost cryptocurrency adoption amongst mainstream audiences who may not be familiar with traditional tokens like Bitcoin (BTC). This could lead more people towards understanding digital currency and other blockchain applications such as decentralized finance (DeFi).