Twitter, owned by Elon Musk, has replaced its recognisable blue bird logo with an X symbol, which has caused a number of tokens with the sign 'X' to suddenly appear on decentralized exchanges overnight.
Twitter CEO Linda Yaccarino acknowledged the rebranding and stated that "X is the future state of unlimited interactivity - centered in audio, video, messaging, payments/banking - creating a global marketplace for ideas, goods, services, and opportunities, powered by AI". There are already a large number of X memecoins on various blockchain networks, including both tokens that look to be pump-and-dump schemes and new tokens that claim to have a clear roadmap for the upcoming months.
This suggests that low-cap traders were purchasing everything with the symbol X in an effort to make a meager profit, as Bitcoin and Ethereum volatility remains low.is up 5% after Elon Musk added the Doge logo to his profile location on X. Musk is renowned to be a vocal proponent of the Doge memecoin, having tweeted about it many times previously. Many are speculating that Doge would be used as a form of payment on the newly rebranded X platform.
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