Twitter app developers tweeted a photo that coined the term Twitter Coin.
The tweet implies that Twitter may be planning to launch its own native token.
Experts believe it is an alternate term for Dogecoin.
That the platform will soon launch a payment mechanism that will accept meme coins, specifically Dogecoin, as payment.
In the past few months, Elon Musk hinted multiple times about including Dogecoin in payment mechanisms; however, regulators and experts claim that Musk is only promoting the prices of meme coins.
To address this issue and avoid regulatory scrutiny, a new term dubbed "Twitter Coin" is emerging in the market, which individuals and experts believe will be used instead of meme coins. Meanwhile, others believe that this is Twitter's upcoming native token.
So, let's take a closer look at what Twitter coin is, why there is so much buzz around it, and whether it will be Twitter's upcoming native crypto token.
On December 4, app researchers Nima Owji and Jane Manchun Wong tweeted a photo that portrayed the Twitter hidden Tips settings including a section called “Coins.”
The tweet sparked a buzz around the term Twitter Coin, which many assume is an alternative term for Dogecoin and few believe is Twitter's native token.
Moreover, Jane Manchun Wong revealed instructions for enabling the feature and checking the modifications. However, the code does not make it clear that the Twitter coin is Twitter's impending native token.
Meanwhile, Jane Manchun Wong deleted her Twitter account soon after tweeting about Twitter Coin. However, by the time the announcement was made, Dogecoin had climbed by more than 7%.
Several media outlets contacted Twitter headquarters about the Twitter Coin confirmation, but the company did not respond.
The members of the Dogecoin community on Twitter and Reddit have also attempted to connect the dots, with some hoping that Twitter Coin is just a temporary term for Dogecoin, considering Musk's long-standing connection with the memecoin. However, if the Twitter Coin turns out to be something else, the prices of meme coins will definitely suffer.
Meanwhile, the tweet also shows that Twitter may adopt more than one cryptocurrency in addition to the Twitter Coin. As we all know, Twitter has already introduced BTC and ETH for tipping services in September 2021 and has just introduced fiat tipping, this implies that Twitter will soon introduce additional payment alternatives for the platform services.
What do you think, will it be a Twitter native token or an alternate term for Dogecoin? Share your thoughts in the comment section below.
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