Altcoin Jumps +1,500% After Twitter Rebrand – Is This The New Dogecoin (DOGE)?

Un altcoin bondit de +1 500% suite au rebranding de Twitter – Est-ce le nouveau Dogecoin (DOGE) ?

Elon Musk announced the rebranding of Twitter in “X”. As often, the news even had an impact on the cryptocurrency market. A hitherto secret altcoin has indeed skyrocketed… Could it be the new Dogecoin (DOGE)?

Elon Musk announces the beginning of the transformation of Twitter

Elon Musk plans to turn Twitter into an “X”, a super app that is a social network, a payment service, a creative platform, and many other things. The beginning of this change was announced yesterday: the company is getting rid of the name “Twitter” in favor of “X”, and the bird logo is also going away.

Elon Musk, who changed his profile picture to the new logo for the event, explains that the address now redirects to In addition, X Corp CEO Linda Yaccarino confirmed the company’s excessive ambitions :

X is the future of infinite interaction – focuses on audio and video messaging, payments and banking services, while creating a global marketplace for ideas, goods and services, and opportunities. Powered by AI, X will connect us all in ways we are only beginning to imagine.»

👉 Get our guide – How to buy Bitcoin in 2023? Get step by step guides

Buy crypto on eToro

eToro (Europe) Ltd offers cryptocurrency investment as a PSAN registered with the AMF. Investing in crypto-assets is very volatile. There is no consumer protection. Investing is risky (find out more)

The announcement causes altcoins to jump

Elon Musk’s influence on certain crypto is no longer proven – the billionaire is especially responsible for the strong comeback of the memecoin Dogecoin (DOGE). There, too, the size announcement had an effect. but not on an altcoin you might expect. The “X” sign has indeed skyrocketed since yesterday… Except it’s not linked to Elon Musk or Twitter. It is indeed a cryptocurrency linked to a closed NFT platform. In other words, it is a “deadcoin”.

The X was previously quoted at 0.00001 dollars… Until yesterday. Since Elon Musk’s announcement, it has increased to $0.0003. That answers to a stratospheric advance of +1500% :

Course X comes back from the dead from yesterday

👉 Also read – The 5 best performing cryptos in June 2023

We repeat: the cryptocurrency is not linked to Elon Musk or Twitter, and it only shares the name with X. A blast up so it is typical of a crypto market that is racing for nothing, or at least for largely speculative reasons. But history shows that these sudden increases can sometimes revive projects.

However, we can be suspicious that the sign X will be the new DOGE, and Caution is advised when it comes to investing in cryptocurrencies that suddenly explode. This also shows that in the markets, the action is often driven by enthusiasm… However, it may be misplaced.

👉 Listen to this article and all other crypto news on Spotify

Confused and overwhelmed by cryptocurrencies? 🤔

Finding opportunities and making informed investment decisions 🔎

toaster icon

Source: Twitter, CoinGecko
Image: Elon Musk via Twitter

What you need to know about affiliate links. This page may contain investment related assets, products or services. Some links in this article may be affiliate. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no influence on you and you can even get a bonus by using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be responsible, directly or indirectly, for any damage or loss incurred after the use of a product or service highlighted in this article. Investments involving crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article is not investment advice.

AMF recommendations. There is no guaranteed high return, high risk is associated with a product with high return potential. This risk must be in line with your project, your investment horizon and your ability to lose some of these savings. Do not invest unless you are prepared to lose all or part of your capital.

To go further, read our Financial Status, Media Transparency and Legal Notices pages.

Shiba Inu (SHIB) and Cardano (ADA) are at risk due to the inevitable rise of the DigiToads (TOADS).

Shiba Inu (SHIB) and Cardano (ADA) are at risk due to the inevitable rise of the DigiToads (TOADS).

Miner preparing for Bitcoin Halving as other cryptocurrencies rise

Bitcoin stagnates as new alternative BTC skyrockets in presale –