- Twitter is working on integrating crypto payments after Elon Musk files for the microblogging platform to become a financial services company.
- While Dogecoin’s community awaits Twitter’s next steps, a DOGE influencer designed a tip jar that allows users with a wallet address to accept tips for no additional cost.
- Experts believe DOGE is on track to continue its rally, and the meme coin is collecting liquidity before its run-up to $0.7777.
Twitter, a popular microblogging platform owned by Elon Musk, filed to be a financial services company. While the crypto community awaits the social media giant’s crypto integration plans, the DOGE community identified a tool to accept tips on Twitter and other digital platforms.
The meme coin’s price is struggling to recover from the recent pullback to $0.0852; experts believe DOGE is collecting liquidity before the next leg up.
Twitter’s crypto plans remain unknown; community finds a way to accept DOGE tips
Twitter’s crypto plans have been the subject of speculation in the meme coin community since Elon Musk’s takeover of the social media giant. Musk is a proponent of the Shiba-Inu-themed cryptocurrency DOGE and is identified as a self-proclaimed “Dogefather.”
The community, therefore, expects DOGE to be a part of Twitter’s crypto integration rollout. Musk and his team are working on developing payment services on Twitter as the firm recently applied to be a financial services company. Musk has previously discussed his vision for Twitter's payment processing. The billionaire claims that the social media app will be fully operational with linked debit cards and bank accounts.
Doge Whisperer, a crypto influencer and the creator of the “Tip Jar”, told FXStreet:
If I had to guess I believe the first step for Twitter will be to integrate payments using fiat then crypto will be layered in. Dogecoin seems to be a favorite of Elon Musk as it has the characteristics of a true digital currency. With fast transaction speeds and extremely low transaction fees DOGE has a great possibility of becoming the currency of the internet.
The “Tip Jar” developed by the DOGE enthusiast can be used to accept tips on Twitter and other social media and has gained popularity. The project is called “Tipmysite”, and users can add the jar to their website or social media accounts at no added cost. The tips received in the jar can be spent at retail outlets that accept Dogecoin, donated or passed on as “tips” to others. Doge Whisperer’s project will help content creators monetize their social media, creating an additional income stream.
Users can convert their tips into local currency using an exchange like Coinbase or Kraken. Tips from the jar can be deposited to the exchange wallet and withdrawn in local fiat currency.
Dogecoin price is on track for another leg up
Despite the recent pullback in Dogecoin price, technical analysts believe DOGE has the potential for another leg up after collecting liquidity between $0.0669 and $0.0884. The meme coin’s price has formed two consecutive bull flags on its chart, and the bullish target for DOGE is $0.7777.
DOGE/USDT 1D Chart
As seen in the chart above, every time the Relative Strength Index (RSI), a momentum indicator crosses the moving average, represented by yellow, DOGE price rallies. A drop below $0.0652, represented by a 38.2% Fibonacci retracement, could invalidate the bullish thesis for the Shiba Inu competitor.
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