Elon Musk’s Grok, an Artificial Intelligence (AI) chatbot developed by xAI, has declared Dogecoin as the best cryptocurrency for X (formerly known as Twitter). This statement came in response to a query from CryptoQuant CEO Ki Young Ju, who asked Grok, “What is the best cryptocurrency for Twitter?”
Grok’s response was clear and unequivocal: “The best cryptocurrency for Twitter would be Dogecoin. Elon Musk, the owner of Twitter, has been a vocal supporter of Dogecoin and has even mentioned it in several of his tweets. This has led to a surge in its popularity and adoption. Additionally, the Dogecoin community is very active on Twitter, making it a great choice for those looking to engage with fellow crypto enthusiasts.”
In a further exploration of the relationship between Elon Musk, DOGE, and the crypto community, Grok revealed that the most liked post in the entire history of Crypto Twitter, which has not been deleted, was a tweet by Elon Musk about the meme coin in 2023. The tweet, stating “Dogecoin to the moon ???? #Doge,” received an astonishing 2.5 million likes.
Despite some confusion over whether this tweet has been deleted, its influence remains undeniable. While Grok admitted that “the tweet you’re looking for has been deleted”, it not only demonstrated Elon Musk’s significant impact on the crypto market but also cemented Dogecoin’s status among crypto enthusiasts.
The reason why Musk deleted the tweet is unclear and remain unknown so far. However, since this post, Elon Musk has showcased his support for DOGE several times, although it has become much more quiet around Musk’s fondness for the meme coin in recent times.
Will Grok Be Right And X Integrate Dogecoin?
Nevertheless, Musk’s interest in integrating the cryptocurrency with his platform X is evident. Recent developments indicate that X might enable Dogecoin payments and tips this year. Musk has hinted at the possibility of using Dogecoin as a unit of account for transactions on X, potentially making it a key player in the cryptocurrency sphere.
X is slated to launch its in-app payment services by mid-2024, positioning itself as a competitor to established platforms like PayPal. The specifics of whether Dogecoin will be included in these payment options remain uncertain, with the possibility of fiat payments also being considered.
In a recent interview with ARK Invest CEO Cathie Woods, Musk shared his expectation of introducing a payment function on X “in the middle of next year.” However, before any such integration can take place, regulatory hurdles must be cleared, including the acquisition of money transmitter licenses in various US states.
This strategic move is in line with Musk’s broader vision for X as an all-encompassing ‘everything app’. The potential integration of Dogecoin could significantly enhance its popularity and usage, offering a new avenue for cryptocurrency adoption and utility.
For the DOGE price, it could mean another massive price spike if the rumors prove to be true. In the past, significant DOGE announcements by Musk have skyrocketed the meme coin by double-digits.
At press time, Dogecoin traded at $0.0819.
DOGE price held above the 0.236 Fib, 1-week chart | Source: DOGEUSD on TradingView.com
Featured image created with DALL·E 3, chart from TradingView.com
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Author: Jake Simmons