Twitter’s Crypto Wallet Plans Are On Hold Due To 8% DOGE Drop

Dogecoin has been among the worst-performing cryptocurrencies over the previous 24 hours, perhaps owing to Twitter-related stories.

According to new rumours, Twitter has halted its intentions to build and release a cryptocurrency wallet that would accept Dogecoin.

At one time, the price of the asset decreased by more than 10 percent.

In the last week, the OG memecoin has been interwoven with Elon Musk’s deeds on Twitter.

After the billionaire eventually finalised the purchase of the social media network, its USD worth increased by more than double and reached a 5-month high over $0.15.

This was mostly predicated on rumours that Musk may include Dogecoin payments for the new Twitter subscription membership sooner rather than later.

However, Platformer previously claimed that the corporation may have halted development of a cryptocurrency wallet that would have supported Dogecoin.

DOGE dropped by 15% very instantly, from $0.1365 to $0.1165. Despite regaining some ground and now trading at $0.12, it is still more than 20% below its previous high.

Separately, Bloomberg reported about a class-action lawsuit filed Thursday in San Francisco against Twitter for Musk’s plans to “eliminate about 3,700 jobs at the social media platform.” Friday, the corporation is likely to terminate employees.