Twitter suspends development of cryptocurrency wallets! Dogecoin drops more than 11% on news

srgfd (6)

Twitter was previously rumored to be developing a crypto wallet that would allow users to send and receive cryptocurrencies on the platform. However, the latest news pointed out that the development plan is suspected to have been suspended, and Dogecoin (DOGE) fell more than 11% on hearing the news. 

Musk has previously hinted at plans for Twitter to integrate cryptocurrency payments, noting at the time that Dogecoin might be accepted as a payment option for subscription fees. The move is believed to help increase Dogecoin adoption, creating a long-term bullish factor. 

However, according to the technology news platform “Platformer”, as Twitter’s new boss Elon Musk is pushing for changes to the platform, Twitter has stopped building an encrypted wallet and has instead developed a paid verification feature, which used to be called “Super Follows”. Which allows fans of creators to pay up to $10 a month to view more tweets and content, is expected to relaunch as a “subscription” on Nov. 11.

Platformer noted that “the plans to build a crypto wallet for Twitter appear to be on hold.”

In response to the above news, Twitter did not respond to a request for comment in a timely manner, but it has caused Dogecoin (DOGE) to plummet, as of press time at $0.117129, down 11.2% in the past 24 hours. 

As a loyal supporter of Dogecoin, Musk’s words and deeds have a huge impact on the market, and after he completed the acquisition of Twitter, it has inspired the price of Dogecoin to rise, soaring nearly 75% to $0.146 in a single day. A few days later, Musk posted a cute photo of “Shishi Inu wearing Twitter clothes” on Twitter, and Dogecoin soared 16% as soon as the tweet came out.

Post time: Nov-28-2022