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Memecoins like Dogecoin and Floki Inu increased in price following a new tweet from Elon Musk.
As of now, the platform is targeting to accepting fiat currencies, then will eventually add crypto functionalities.
Reports suggests Twitter may be entering the cryptocurrency industry, following in the footsteps of rival Meta, by introducing a Twitter coin.
Twitter is now owned by the richest person in the world after billionaire Elon Musk successfully completes a $44 billion deal to acquire the social networking site.
Recently, he expressed that he will keep on buying the meme cryptocurrency Dogecoin.
Despite facing a lawsuit, Musk boldly tweeted that he will still support and buy DOGE, which spiked by nearly 10% after his tweet..
Twenty-four hours after Musk’s tweet on June 19, the value of Dogecoin increased by 8.5%.
The petitioner seeks $86 billion in damages and an additional $172 billion for the losses incurred for trading dogecoin from 2019.
Though it was Beylin’s idea to create the meme, she was not the creator of the image of the cartoon couple nor the editor of the prices of bitcoin and ether.