The Dogecoin price has plunged more than 10% following Twitter’s crypto wallet U-turn
The price of Dogecoin is now down more than 11% after platformers reported that Twitter had halted development of a cryptocurrency wallet.
This came shortly after Tesla CEO Elon Musk took over the social media company.
The controversial takeover deal was seen as a positive development for Dogecoin. Musk has repeatedly hinted at potentially integrating the meme coin into the social platform, but that’s only a theoretical possibility for now.
Earlier this week, Bernstein said that expecting Twitter to have a crypto future wasn’t “unreasonable.”
Dogecoin’s price saw a three-digit rally after Musk acquired Twitter, but the platformer reports that Mem Coin is now one of the worst-performing altcoins in the past 24 hours.
As reported by U.Today, tech blogger Jane Manchun Wong revealed last month that Twitter was working on its own wallet prototype.
Last September, Twitter introduced a feature that makes it possible for content creators to receive suggestions in bitcoin. The company added support for Ethereum in February after Jack Dorsey stepped down as CEO.
A few months ago, the social media platform also allowed its users to turn their non-fungible tokens into profile pictures.
