In the early morning of April 4, 2023, the blue bird Twitter logo above the official home button of Twitter users was no longer the previous blue bird Twitter logo, but changed to a cartoon avatar with a dog head. It has to be said that Musk's ability to carry goods is quite good, and a small move stirred up the nerves of Dogecoin. Dogecoin took off immediately, but having a dad is different. At 1:30 in the morning, the price of Dogecoin rose from a maximum of $0.076 to $0.104, an increase of 30%. As of press time, the price remained at $0.095.
Musk’s previous actions are also worthy of attention. Lawyers for Musk and his electric car company Tesla asked a U.S. judge on March 31 to end a $258 billion lawsuit that accused him of conducting a pyramid scheme to raise the profile of dogs. Dogecoin price. Musk's lawyers said in the filing: "It is not illegal to post comments or funny pictures on Twitter in support of a legal cryptocurrency with a market value of nearly $10 billion. The court should put a stop to the plaintiff's fantasy and dismiss the lawsuit."
At 11 o'clock on April 3, Musk also sent a picture of the traffic police checking the driving license of a butterfly. The driving license showed the ID photo of a caterpillar. Butterfly said: That is a photo from before. That is to say, the caterpillar was now a butterfly, which means transformation into a cocoon.
At 2:50 a.m. on April 4, the traffic police also sent a picture of a dog’s driving license. On the driving license was the ID photo of a blue bird. The dog said: That’s from before. photo. That is to say, the blue bird was now a dog, which also means redemption.
After changing the Twitter LOGO to a dog avatar, Musk tweeted a "SeizeJPGs" NFT from the Meme Card series launched by Punk 6259. Musk's related actions also pushed up the price of Dogecoin and SeizeJPGs. Within minutes of the "SeizeJPGs" tweet, the trading price of the work on OpenSea soared from 0.5 Ethereum three days ago to more than 2 Ethereum.
Since the year before last, Musk has mentioned Dogecoin on Twitter many times and called Dogecoin the "people's cryptocurrency."
The emergence of Dogecoin paved the way for the current expansion of the memecoin space. Dogecoin sparked the original memecoin movement, followed by other memecoins such as Shiba Inucoin. The price of Dogecoin surges with every favorable tweet from Musk.
Musk has announced that acquiring Twitter will help accelerate the development of the X-App, a full-featured all-in-one application he envisions. Musk wants to build a multi-functional platform or super application like WeChat, which not only has comprehensive payment capabilities, but also advanced communication functions, a dividend mechanism for content creators, and an easy-to-enter interface.
Twitter is developing a prototype to support cryptocurrency wallets. Twitter will begin supporting Bitcoin tipping in September 2021, support Ethereum in early 2022, and also add support for NFTs. As one of the Internet giants entering Web 3.0, Twitter’s layout is very forward-looking.
Web 3.0 can create an open ecosystem, enable new digital forms, and give individuals more rights to control content—this new decentralized model will undoubtedly inject new vitality into Twitter and may even further expand its user base Group size.
After Twitter completed the acquisition, the current Twitter web version logo has been updated to the Dogecoin logo, and the Dogecoin logo also appears on the Twitter login loading interface. Musk will revalue Dogecoin. Musk originally bought a lot of Dogecoin when the price of Dogecoin was US$0.001. Now it is close to US$0.1, and it is very likely that it will reach US$1 in the future.
In the future, Twitter will become a web3 payment platform. Musk has a lot of cards to play, it’s just a matter of timing and compliance. We will use various resources at hand to integrate step by step, pushing Dogecoin to be the universal currency for blockchain network payment, until it surpasses the U.S. dollar.
The address where Musk is suspected of holding Dogecoin: DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L The address holds 36 billion Dogecoins, equivalent to 27% of the Dogecoin market supply, and is currently worth approximately US$3.6 billion. The address where Musk is suspected of buying Dogecoin: D8vFz4p1L37jdg47HXKtSujChhP9f3doTK This is the blockchain address of the centralized exchange.
Some users concluded based on the time of Musk’s Dogecoin tweet and the time of the anonymous address transaction that this address may belong to Musk.
Musk is a businessman with dreams and strategic vision. Before entering Dogecoin, there was a strategic consideration in terms of traditional American dog culture, blockchain technology, quantity and price.
Musk is the only one who understands traffic monetization and blockchain payment clearly. Whether it is using its popularity to endorse Tesla, Dogecoin, or hyping Bitcoin. Traffic monetization and blockchain payment are two major tools and foundations for Musk to build his Mars business empire in the future.