Elon Musk once again dismissed rumors about Twitter or “X” introducing a cryptocurrency. In response to a post from one of the users on Twitter, Musk categorically ruled out such a possibility, stating: “And we will never do it.”
Rumors about the introduction of a token called “$X” or “Twitter token” were spreading in the media, claiming that enormous profits could be made within 24 hours.
These reports surfaced at a time when Twitter is rebranding, and Musk is aiming to make “X” the new “everything app.” It’s no wonder that users pointed out the likelihood of creating a cryptocurrency related to Twitter or “X,” considering the CEO’s fondness for the popular memecoin – Dogecoin (DOGE).
Musk himself, also known as the “Father of Doge,” acquired Twitter for a staggering $44 billion and temporarily changed Twitter’s icon – the iconic blue bird – to the image of the Shiba Inu, Dogecoin’s logo.
This move resulted in a $258 billion lawsuit for market manipulation, but at the same time, it caused Dogecoin to rise by 20%.
Some publications claim that during Twitter’s rebranding as “X.com,” an entirely unrelated cryptocurrency called “X token” experienced a massive 1000% surge. However, it is essential to emphasize that “X token” has no connection to “X.com.” It is an altcoin belonging to a project initiated by “X,” a decentralized NFT marketplace operating on various chains.
