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Dogecoin Dips 8% As Twitter Is Reported To Halt Crypto Wallet Plans

According to recent reports, Twitter’s ambitions to create and introduce a cryptocurrency wallet that would accept Dogecoin have been put on hold.

The asset reacted right away, dropping more than 10% at one point in price. Particularly over the past week, Elon Musk’s actions on Twitter have been linked to the original memecoin.

As a result, after the billionaire eventually finished buying the social media network, its USD valuation more than doubled and reached a 5-month high above $0.15.

The majority of this was based on rumors that Musk would soon adopt Dogecoin payments for the new Twitter premium membership.

Platformer stated earlier, however, that it was possible the business had put on hold plans to create such a cryptocurrency wallet that might have accepted Dogecoin.

DOGE dropped by 15% very instantly, from $0.1365 to $0.1165. Although it has gained some ground and is currently above $0.12, it is still down more than 20% from its most recent peak.

A class-action lawsuit against Twitter was launched on Thursday in San Francisco, according to a separate report from Bloomberg, over Elon Musk’s intentions to “destroy around 3,700 employees at the social media network.” It’s anticipated that the corporation will fire employees on Friday.

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