Elon Musk has stated that he is willing to lose money in order to speak his mind, following the Tesla shareholder meeting in May 2023. However, experts believe that the recent rebranding of Twitter to X is solely for Musk's ego, and could be counterproductive for the social media company. While the Dogecoin price has risen since Musk announced the rebranding plans, brand experts believe the renaming exercise could eventually affect Tesla stock as well. Despite Twitter's transformation into a global marketplace, Musk faces the challenge of recovering the platform's advertising revenue, which has dropped by over 50% since October 2022.

According to CoinGecko, Dogecoin's market cap is now almost equal to Cardano's at around $10.4 billion, with Dogecoin showing a 2.9% increase in the past 24 hours. Meanwhile, Ethereum remains steady at approximately $1,844, while Binance Coin and XRP have seen slight drops.

After Elon Musk's announcement of Twitter's rebranding to "X Corp", various tokens with the "X" label have emerged on Decentralized Exchanges (DEXes), leading to the creation of several meme coins. The X token on the BNB Chain experienced a 99.58% loss in value, while an X token on Uniswap saw a 141,000% increase. Linda Yaccarino, Twitter's newly-appointed CEO, stated that the rebranding to X would enable Twitter to consider critics' opinions and introduce new features, with the goal of establishing a global marketplace. Meanwhile, Dogecoin's trading volume increased by 187% and its price rose by 2.44%.

Elon Musk's social media platform, X, formerly known as Twitter, is edging closer to adopting cryptocurrency payments. Twitter Payments LLC, a key component of the potential "X Coin" system, has recently acquired licenses from several states to process crypto transactions. This follows reports in January of Twitter's interest in diversifying revenue streams and introducing an "everything app" that could include fiat and later cryptocurrency payments.

Elon Musk's rebranding of Twitter to "X" has caused several crypto tokens to rally, including his favorite meme crypto, Dogecoin (DOGE). Despite a massive sell-off in the global digital asset market on Monday, DOGE performed a decoupling event and registered green indexes, surging by almost 5% in the last 24 hours.

Twitter is reportedly set to undergo a major rebrand, which could include changing its color scheme to black, removing its blue bird logo, and changing its name to "X". Elon Musk has hinted at the rebrand, which is an early step in the platform's transformation to an "everything app". However, not all members of the crypto community are thrilled with the proposed changes, with some calling the decision "insane". The upcoming app, known as "X", is said to feature unlimited interactivity, support for multiple media formats, and payments and banking, and will be powered by artificial intelligence.

Following Elon Musk's announcement to rebrand Twitter as X.com, an obscure cryptocurrency called X linked to a now-closed NFT marketplace has surged over one thousand percent, with a 1,047% increase in the past 12 hours, according to CoinGecko. The X token was trading at $0.00002 on Sunday with virtual zero volume and liquidity, but by Monday morning in Asia, it had pumped to $0.00025, with volume surging to $50,000, mostly on the SushiSwap decentralized exchange. The unrelated token is linked to the X NFT marketplace, which announced its closure in May, and its website states that the treasury of around $950,000 was being returned to X token holders.

Tech entrepreneur and founder of SpaceX and Tesla, Elon Musk, announced via his Twitter account that X.com, his former online payments company, now redirects to Twitter. Musk's tweet read "http://X.com ↗ now points to https://twitter.com/. ↗ Interim X logo goes live later today."

Elon Musk, the CEO of Tesla, has been known for his support of Dogecoin, a meme cryptocurrency, and its impact on its value. During his appearance at the Wall Street Journal CEO Council Summit in Q2 2023, Musk explained that his love for Dogecoin goes beyond its capabilities in the crypto market and is more related to its humorous nature.

Elon Musk, former CEO of Twitter, is promoting the Twitter Blue subscription package to users. He claims that verified subscribers on the platform can earn thousands of dollars per month in advertising revenue sharing. Interested users can subscribe for $7 per month on an annual plan. Musk has made changes to Twitter, including allowing anyone to pay for the blue tick verification. However, some users have migrated to the newly launched app Threads from Meta Platforms, causing Twitter to express concerns and threaten legal action.