Elon Muskthe new head of Twitter, has once again made a crypto headline that has sent prices skyrocketing.

Musk tweeted a photo of a Shiba Inu dog dressed in a Twitter logo t-shirt and a Twitter logo pumpkin on Halloween, accompanied by a winking emoji as a caption.

Unsurprisingly, the prices of Musks’ favorite cryptocurrencies Dogecoin (DOGE) and Shiba Inu soared.

DOGE soared 14% within minutes of his tweet. However, the crypto was down to 12% at press time.

While Shiba Inu also showed a big uptrend but not as much as DOGE, it rallied around 5% to create a local high of $0.00001032. However, the Shiba Inu’s uptrend also fell after the hype died down, and at press time the pump had dropped to 4%. It was trading at $0.00001287.

In addition to the tweet, the two cryptocurrencies were already all the rage, as Musk had already hinted that DOGE would soon be incorporated into the Twitter platform.

Musk’s latest tweet posting comes after completing the $44 billion acquisition of Twitter.

Musk has been a vocal supporter of DOGE for years. He also believes that DOGE is better than bitcoin to execute daily crypto payments.

Musk’s cryptocurrency-related tweets have always been market movers.

DOGE was also previously shot up in May when Musk tweeted that his space company SpaceX would introduce DOGE payments in the near future.

Bloomberg media on Saturday suggested several ways that Musk, who is one of the biggest crypto influencers globally, could bring more crypto to Twitter.

According to Bloomberg, if Musk decided to play a larger crypto role on Twitter, there are a few ways he could do so.

Bots and spam on Twitter have been a major concern for Musk and helped spark a contentious legal battle that put the company’s acquisition at risk. The issue is particularly prominent in the case of cryptocurrencies, where spam accounts impersonate famous personalities like Musk to promote scams involving bogus crypto giveaways.

According to Bloomberg, some cryptocurrency enthusiasts believe that Musk may advocate the use of blockchain to help reduce bots on Twitter and authenticate all real humans on social media.

Freedom of expression is a priority for Musk, and he intends to lift the company’s lifetime bans on users. Those values ​​align with those of the majority of crypto believers dedicated to the spirit of decentralization promoted by blockchain.

According to Bloomberg, Musk could implement a token-based voting system that allows users to have more say in what happens on Twitter. It could also add more crypto elements to Twitter to expand the decentralization aspects and widespread use of digital assets.

Musk has already expressed his ambition to turn Twitter into a “super app”. In the past, he has expressed admiration for China’s WeChat platform, which can handle things like messaging, gaming, payments and video streaming.

Image Source: Shutterstock