u.today
Mishaboar, a big name in the Dogecoin community, recently talked about the possibility of DOGE being added to X's payment service amid long standing rumors.
Thus, he said that while there is obviously a lot of interest in seeing DOGE integrated into X's payments, there is currently no concrete information about its inclusion.
He agreed that X is getting the green light to launch its payments service across the U.S., but there is no word on whether Dogecoin will be involved. This follows the social network, which is owned by Elon Musk, getting another money-transmitter license in North Dakota.
Not really - X is acquiring licenses across all U.S. states to launch its payments service, but there is no real information beyond rumors or speculation regarding crypto and Dogecoin integration/support.
— Mishaboar (@mishaboar) August 3, 2024
Mishaboar also shared his views on the cryptocurrency market, pointing out the risks involved in trading and holding crypto. He said the market is very speculative right now and warned against the rise of new tokens, most of which he thinks are scams.
Only one DOGE
The warning came amid recent stats showing that over 1.5 million meme cryptocurrencies have been created in the past few months since the launch of the Solana-based pump fun app.
Mishaboar said that while Dogecoin is often grouped with other meme tokens, it stands apart because it is a decentralized and permissionless cryptocurrency with its own blockchain.
He also pointed out that DOGE was not originally designed to make money. Its growth to its current market cap is pretty unusual and not something that can be easily repeated. He suggested limiting exposure to well-known coins and using reputable exchanges.