1. April 2023

• Dogecoin (DOGE) has surged in price by 8% today, rising to $0.092839 after reports that Twitter owner Elon Musk is determined to move ahead with integrating payments into the social network.
• The market has long expected that Twitter will one day see dogecoin payments, and if this expectation is realized, DOGE could rally massively as a result.
• However, the latest reports make no explicit mention of dogecoin itself and with Twitter also reportedly working on its own digital currency, there’s no guarantee that the social network will embrace DOGE.

Dogecoin Price Rally on Reports of Potential Crypto Payments for Twitter

Dogecoin (DOGE) has surged in price by 8% today, rising to $0.092839 after reports yesterday that Twitter owner Elon Musk is determined to move ahead with integrating payments into the social network.

Market Expectations of Dogecoin Payments on Twitter

The market has long expected that Twitter will one day see dogecoin payments, and if this expectation is realized, there’s no doubt that DOGE will rally massively as a result.

No Mention of Dogecoin in Latest Reports

However, the latest reports make no explicit mention of dogecoin itself and with Twitter also reportedly working on its own digital currency, there’s no guarantee that the social network will embrace DOGE.

Dogecoin Charts Point Towards Breakout Rally

Dogecoin’s chart makes it clear that the altcoin is enjoying a breakout rally right now, with its relative strength index (purple) rising to 70 as a result of rising momentum. At the same time, its 30-day moving average (red) has overtaken its 200-day average (blue), again indicating that a breakout — of indeterminate duration — is currently underway.

Twitter Accelerating Payment Plans Without Explicit Mention of Dogecoins

The main reason for today’s rally is an article published yesterday on the Financial Times website, in which insiders tell the outlet that Twitter is accelerating its payment plans but without any explicit mention of cryptocurrency or dogecoins themselves. However this was apparently enough to spark a dogecoin rally.

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