Dogecoin (DOGE) experienced double-digit gains today as a result of Twitter being rebranded to X. Elon Musk, who bought the microblogging platform last October, has owned the X.com domain since 2017 accompanying an intent to convert it into an “everything app”. Currently, the URL redirects to Twitter, which ties in together with the billionaire’s goal to turn the media-sharing site into what he calls “the most valuable financial institution in the world”.
Musk recently articulated the relabeling of his social network platform with the X logo showing on the Twitter page, covering the former iconic blue bird icon. Mark classified the new identity as “the future state of unlimited interactivity – located in audio, video, messaging, payments/banking – creating a global infrastructure of knowledge, goods, services, and openings. Driven by AI, X will link everybody like ever witnessed before”.
The announcement of the relabeling suddenly drove traders since they seemed to contemplate DOGE playing a role with regard to X. Overall, DOGE rose until reaching a two-month peak at $0.77, at the time of publishing positioned slightly below this milestone exchange rate with $0.75. Based on realized data, Dogecoin’s daily trading spree increased to 374%, even surpassing $1.38 billion in influence. Beneath the nomen transformation, tokens referred to as ‘X’ recorded spectacular returns with one X symbol demonstrating an increase of over 300% and a third-party coin called ‘X AI’ measurable by the 166% uptrend just under one week into its being.
Observatively, the Tesla CEO held flag for DOGE, cementing it at ‘The Boring Company’ e-store, which was tempted on selling flamethrowers, perfumes, tequila, and more. Last month, users on Twitter reckoned they were able to view the pet mascot behding the memecoin on the Twitter grandpage instead of the mascot linked Pigeon fanatics weren’t forgotten, though, as they saw the illustrated dog nestled in Musk’s bio briefly.