In a recent report, Bernstein stated that it is “not unreasonable” to imagine a future for social media platform Twitter’s Dogecoin.
The company said the popular bitcoin imitator could become Twitter’s “app token.”
As reported by U.Today, Dogecoin has recently experienced a stunning price increase following Tesla CEO Elon Musk’s acquisition of Twitter.
Earlier today, the entrepreneur posted a photo of a Shiba Inu wearing a T-shirt with the Twitter logo next to a jack-o-lantern. Many thought he was hinting at an impending integration.
Still, it’s now clear how meme coins might be used by Twitter users. Its potential integration remains theoretical.
There’s speculation that it could be used to pay for a Twitter Blue premium subscription. As U.Today reported, Musk came up with such an idea in April after initially acquiring a 9.2% stake in the popular social media company.
Dogecoin can also be used to fight the plethora of scam bots that keep popping up on popular social media apps.
As reported by U.Today, Input Output CEO Charles Hoskinson recently suggested integrating Dogecoin as a Cardano sidechain.
Cryptocurrency exchange Binance, which owns a stake in Twitter, recently announced that it is forming a team to find ways to use blockchain and crypto on Twitter.
Before the acquisition, Twitter had already started developing its own cryptocurrency wallet.