Elon Musk Says X Will Never Launch A Crypto Token, Dogecoin Jumps

X won’t ever launch a crypto token, Elon Musk stated on Saturday in a reply to a submit on doubtful X and Twitter crypto tokens. Elon Musk revealed plans to show Twitter into X – An Everything App and already began engaged on it by absolutely altering Twitter’s identify to X final month. Musk’s reply on crypto token pumped Dogecoin worth by 2% in an hour.

Elon Musk Clears Air On X and Twitter Tokens

Elon Musk responded to a submit by DogeDesigner on August 5 to clear the air on rip-off tokens equivalent to $X and $TWITTER claiming hyperlinks to the social media large.

DogeDesigner warned the crypto neighborhood to stay cautious of some articles on rip-off tokens. He stated Elon Musk and X by no means launched a crypto token. Elon Musk responded by saying, “And we never will.”

And we by no means will

— Elon Musk (@elonmusk) August 5, 2023

Elon Musk has earlier hinted at integrating crypto into the platform for funds, merchants speculated whether or not he’ll launch a selected crypto token or use his favourite Dogecoin. While the appointment of Linda Yaccarino as the brand new CEO weakened the Dogecoin integration thesis, the brand new remark by Musk renewed bullish sentiment.

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Dogecoin Price Jumps

Within hours, the worth of Dogecoin jumped greater than 2% after Musk confirmed that he has no plan to launch a crypto token.

DOGE price climbs 3% within the final 24 hours, with the worth at the moment buying and selling at $0.075. The 24-hour high and low are $0.0727 and $0.0747, respectively. However, the buying and selling quantity has decreased barely by 10% within the final 24 hours.

Popular analyst Michael van de Poppe predicts Dogecoin worth to rally within the coming weeks because it seems to be to maneuver towards $0.1.

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