Has the price of dogecoin skyrocketed because of the Twitter Coin rumor?

The price of Dogecoin, the world’s largest meme crypto-currency, has just suddenly risen amidst current rumors about Twitter launching a “Twitter Coin.” However, as soon as Elon Musk took over as head of the social media company, it was expected that his favorite crypto meme would be integrated somehow.

Will the price of Dogecoin soar?

According to data, the price of Dogecoin has jumped more than 6% in response to the Twitter Coin rumor. DOGE was trading before the rumor at an average price of $0.104, its price soared to trade at $0.1106.

Dogecoin is trading at an average price of $0.107, auctually. Its 24-hour trading volume is up 16% to $923 million.

Actucrypto.info reports that Twitter is developing a monetization tool. Application researchers Jane Manchun Wong and Nima Owji have modified the “Coins” and the hidden section “Tip“. This is great news about Elon Musk’s favorite crypto Dogecoin, which, as always, is being implemented.

Twitter is working on New Forms of Monetization and… something called Twitter Coins? pic.twitter.com/HKkVEDiaeA

– Morgan (@Helloimmorgan) December 3, 2022

A good time for Dogecoin holders?

However, it is still unclear whether the social networking giant will opt for Dogecoin or another crypto as a tip. Jane Manchun Wong also mentioned that there is no indication in the code that it is related to DOGE.

Earlier, Billy Markus, the creator of Dogecoin, raised concerns about banned accounts tweeting about memes. Elon Musk responded that his team was a bit too intense on spam suspensions. However, they have now gone into relaxation mode.