Dogecoin, the world’s first-ever meme coin, saw a spike in its value Tuesday as one of its evangelists, Elon Musk, is seemingly closer to making good on his promise of transforming the social media platform Twitter into an “Everything App” and eventually integrating DOGE.
The “Chief Twit” is officially changing Twitter, Inc.’s name to X Corp starting next month and is currently working to make the social media platform his dream “Everything App.”
Court filings dated April 4 and April 10 showed that Twitter, Inc. has been merged into X Corp. and no longer exists. X Corp. is a privately held corporation. This was further confirmed in an email sent to the platform’s official partners, shareholders and other related parties.
“We are writing to let you know that Twitter, Inc. has been renamed to X Corp,” a screenshot of the email posted on the social media platform read, informing recipients to use the new name in all official dealings.
As per the email, aside from the tax ID number, all contracts, billing, and other records pertaining to the social media company should now be referred to X Corp. While there are no changes in management or control, the corporate name change has apparently been made with respect to the company’s merger with X Holding Corp.
The email also clarified that despite the company’s name change, the social media service will retain its name, Twitter, noting, “the Twitter service will continue to be known as Twitter.”
BREAKING: Twitter is letting businesses on the platform know the company has been renamed to X Corp. The Twitter service will continue to be known as Twitter. pic.twitter.com/sYBDQuZZtp
— Sawyer Merritt (@SawyerMerritt) April 18, 2023
The company also updated its terms and policies where the terms of service, privacy policy, and data processing agreement now all bear the name change.
Musk will officially change Twitter, Inc. to X Corp on May 18.
Since last April, Musk has shared his desire to transform Twitter into an “Everything App,” which would function similarly to China’s WeChat, and hinted at the possibility of integrating Dogecoin into the social media platform.
Changes with Twitter since Musk took its helm have always equated to a spike in the price of Dogecoin.
In the week that Musk changed Twitter’s logo to Shiba Inu, Dogecoin saw a 25% surge in its value following speculations that the meme coin would get its support on the platform for payments.
Following reports of the Twitter name change, DOGE saw a 2% gain and was trading in the green zone at $0.0919.
But the spike appeared to be brief as DOGE saw a 2.62% loss over the past 24 hours and was trading down at $0.09066 with a 24-hour volume of $792,736,140 as of 4:1 ET on Wednesday, according to the latest data from CoinMarketCap.
