Elon Musk’s Money Transmitter License: A Game-Changer for Dogecoin (DOGE) Price?
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On August 29, the Dogecoin (DOGE) price bounced nearly 10% after Rhode Island regulators approved a currency transmitter license for Elon Musk’s X (Twitter). A vital on-chain indicator reveals how DOGE traders will likely react to the media attention.
From a series of cryptic tweets to an honorable mention on a Saturday Night Live (SNL) special, Elon Musk has been a major proponent of Dogecoin (DOGE) over the last few years. On Monday, media reports revealed that the social media giant X (Twitter), owned by the billionaire, has acquired a “currency transmitter license.”
Unsurprisingly, crypto enthusiasts switched attention to DOGE, echoing long-running rhetorics that memecoin could become X’s native peer-to-peer payment protocol. A key on-chain indicator provides insights into how DOGE traders will likely react to this development.News https://beincrypto.com
https://beincrypto.com/elon-musks-trading-license-doge-price/source.
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