$DOGE | July 25, 2023
Yesterday Elon Musk rebranded Twitter from a micro-blogging social platform to X, the everything app.
He has stated his intention to integrate a full suite of financial services, which likely includes crypto payments. Given Elon’s affinity towards Dogecoin, it’s likely any crypto integration will include DOGE.
Additionally, given that DOGE is a proof-of-work memecoin, there is little concern regarding it being a security in light of the recent SEC crackdown.
There have been confirmations in the past that Twitter’s payment system will be built to include crypto:
Finally, from a price-action perspective, DOGE is contending a long-term bear market down trend line and bouncing out of bullish divergence on the RSI.
In short, it has become obvious after yesterday that Elon Musk will integrate crypto payments into Twitter (X).
Given Elon's affinity towards DOGE, any crypto payments are likely to include DOGE, which would be constructive for price action as Twitter has nearly 500 million daily active users.
We feel there is asymmetric risk/reward to having a bit of spot DOGE exposure over the coming months as Twitter rebrands to X and integrates crypto payments that are likely to include DOGE.