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X won’t ever launch a crypto token, Elon Musk mentioned on Saturday in a reply to a put up 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 title 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 put up by DogeDesigner on August 5 to clear the air on rip-off tokens reminiscent of $X and $TWITTER claiming hyperlinks to the social media large.

DogeDesigner warned the crypto group to stay cautious of some articles on rip-off tokens. He mentioned 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 value 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 value 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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Varinder has 10 years of expertise within the Fintech sector, with over 5 years devoted to blockchain, crypto, and Web3 developments. Being a know-how fanatic and analytical thinker, he has shared his information of disruptive applied sciences in over 5000+ information, articles, and papers. With CoinGape Media, Varinder believes within the large potential of those revolutionary future applied sciences. He is at the moment protecting all the newest updates and developments within the crypto business.

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