Dogecoin jumps more than 50% as Twitter introduces “NFT Tweet Tiles” update

Data from CoinMarketCap shows that dogecoin, the most popular memecoin, has risen by 50% over the past day. The price spike coincides with Twitter’s recent announcement of another advance in the non-fungible token (NFT) market.

Currently, DOGE is trading at about $0.14, according to statistics provided by CMC. The most popular memecoin, which is backed by Tesla CEO and billionaire Elon Musk, has risen 50% in the last 24 hours and over 143% in the last seven days, reaching a 10-week high. It is essential to remember that on October 18, Dogecoin’s hash rate reached a seven-month high of 815 TerraHashes per second (TH/S).

Twitter Tiles NFT Tweet

Tesla CEO Elon Musk recently acquired Twitter for $44 billion. Twitter has developed numerous crypto-currency announcements over the past week as the deal draws closer. On Thursday, Twitter announced the testing of “NFT Tweet Tiles“.

According to the micro-blogging site, the platform plans to launch a brand new feature called “NFT Tweet Tiles“, which is a separate panel in a tweet that displays non-fungible tokens (NFT) and markets that list the particular NFT shared. This new concept of non-fungible tokens should be implemented very soon, in order to have a “impact on the tweet experience“, Twitter developers said on October 27.

Now testing: NFT Tweet Tiles 🚀

Some links to NFTs on @rarible, @MagicEden, @dapperlabs and @Jumptradenft will now show you a larger picture of the NFT alongside details like the title and creator. One more step in our journey to let developers impact the Tweet experience. pic.twitter.com/AkBisciB1i

– Twitter Dev (@TwitterDev) October 27, 2022

This development comes just four days after the famous tech influencer, Jane Manchun Wong, revealed that “Twitter is working on a prototype wallet that supports the deposit and withdrawal of crypto-currencies.“

Twitter’s hexagonal logo and NFT verification method appear to be extended by the company’s new NFT Tweet tiles. NFT sales have dropped significantly over the past 12 months, with 30-day statistics showing a 22.01% drop from the previous month. The previous month, $423.91 million worth of NFT sales were settled, and total historical sales crossed the $40 billion mark this month.