Elon Musk Says X Will Never Launch A Crypto Token, Dogecoin Jumps

Elon Musk Clears Air On X and Twitter Tokens

Elon Musk responded to a post by DogeDesigner on August 5 to clear the air on scam tokens such as $X and $TWITTER claiming links to the social media giant.

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DogeDesigner warned the crypto community to remain careful of some articles on scam tokens. He said Elon Musk and X never launched a crypto token. Elon Musk responded by saying, “And we never will.”

Elon Musk has earlier hinted at integrating crypto into the platform for payments, traders speculated whether he will launch a specific crypto token or use his favorite Dogecoin. While the appointment of Linda Yaccarino as the new CEO weakened the Dogecoin integration thesis, the new comment by Musk renewed bullish sentiment.

Also Read: NYAG Investigates DCG Chief Barry Silbert Over Genesis Ties

Dogecoin Price Jumps

Within hours, the price of Dogecoin jumped more than 2% after Musk confirmed that he has no plan to launch a crypto token.

DOGE price climbs 3% in the last 24 hours, with the price currently trading at $0.075. The 24-hour low and high are $0.0727 and $0.0747, respectively. However, the trading volume has decreased slightly by 10% in the last 24 hours.

Popular analyst Michael van de Poppe predicts Dogecoin price to rally in the coming weeks as it looks to move toward $0.1.

Dogecoin price
Dogecoin Price Chart. Source: Michael van de Poppe

Also Read: Binance Vs SEC News: BinanceUS Files Motion In Response To Earlier Deal With SEC

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