Speculations have been rampant about an upcoming Twitter Coin that could potentially take over Dogecoin’s current mantle as the native currency of the social media platform.
Online Sleuths Uncover “Twitter Coin”
Several self-appointed online technical sleuths have pointed out that a new native crypto token is in the works at Twitter. The crypto is being dubbed Twitter Coin, and word around the blockchain is that it could push out Dogecoin from the position of the native currency of the social media platform.
Security researcher Jane Manchun Wong was the first to bring the possible new coin into the public eye. She extracted a code from a recent version of the Twitter web app, which featured a vector image of the “Twitter Coin.” She shared the image on her Twitter account along with an image of the Coins tab within Twitter’s Tips feature. Granted, Wong clarified that the Twitter Coin icon might not represent a native token necessarily, instead just be a visual representation of the platform’s crypto tipping feature.
However, soon after, Wong’s Twitter and LinkedIn profiles were disabled. This added more fuel to the rumors about Twitter Coin, with some users claiming that she had been kicked off of Twitter because of what she shared.
Twitter user Nima Owji, who runs an app-focused information leak account, also posted a screenshot of what appears to be a prototype Twitter interface showing a “Coins” option for tipping, along with a vector image showing a coin bearing Twitter’s logo.
DOGE Accounts Suspended
Other incidents on Twitter have also raised suspicion among the community. For instance, on December 3, Dogecoin CEO Billy Markus pointed out several DOGE-related accounts have been banned from the platform.
“A whole bunch of accounts of people who, as far as I know, generally don’t do anything but tweet memes and positivity are being suspended.”
Elon Musk responded to the tweet that he was looking into it. He soon tweeted back that the matter was resolved and that the accounts were reinstated. He claimed that the error happened because the Twitter team had been eliminating spam or bot accounts.
Could This Mean Trouble For DOGE?
Some Twitter users and DOGE supporters are holding on to the belief that this could be an instance of the platform formally recognizing DOGE as Twitter’s official currency and that Twitter Coin is just another moniker for DOGE. However, if Twitter Coin turns out to be a standalone cryptocurrency, it could spell trouble for DOGE and even BTC. DOGE, especially, has always benefitted from Elon Musk’s open advocacy for it. If it were dethroned by a different crypto, that could spell a major blow to the memecoin, which owes a lot of its success to Twitter and Musk’s advocacy.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.