• Elon Musk launched a new artificial intelligence company on Wednesday, xAI.
• Crypto Twitter is excited, with many members of the DOGE Army guessing what this could mean for Dogecoin.
• Dogecoin has reclaimed a key support level and reached a new monthly high at press time.
Elon Musk Launches Artificial Intelligence Company
Elon Musk, the CEO of micro-blogging platform Twitter, has launched a new artificial intelligence (AI) company called xAI. The tech mogul stated that the enterprise aims to “understand reality” and will have a strong lineup of experts from DeepMind, OpenAI, Google Research, Microsoft Research, Twitter and Tesla joining it. This news has caused excitement in the crypto community and especially among members of the DOGE Army as they speculate what this could mean for Dogecoin.
Dogecoin Reclaims Key Support Level
At press time, Dogecoin occupies the #10 spot by global market cap and is trading at $0.070017 with a 7.1% increase in the last 24 hours. It recently reached its monthly all-time high of $0.071668 in the early hours of Friday when Ripple was deemed not to be a security in its SEC case.
Twitter Speculation Around Elon Musk’s Move
The Crypto Twitter community is speculating what Musk’s move could mean for Dogecoin; some have suggested that Dogecoin become the tipping coin on Twitter 2.0 or even used for ad revenue sharing among users of the platform which would see an explosion in popularity if these suggestions were implemented.
Musk’s Support For The Canine Coin
Musk confirmed his support for Dogecoin on multiple occasions and remarked that “fate loves irony” referring to how it started out as a joke but now has potential due to its utility and longevity.
Overall, there is much excitement surrounding Elon Musk’s latest move with AI startup xAI giving hope to members of the DOGE Army who are eagerly awaiting more details about how this may benefit them going forward!