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Will DOGE Payments Come To Twitter? Dogecoin Enters Top Ten After Musk-Twitter Deal

Dogecoin jumps four ranks to enter in the top ten crypto-list after Elon Musk finalizes his deal with Twitter.
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Will DOGE Payments Come To Twitter? Dogecoin Enters Top Ten After Musk-Twitter Deal

After a few weeks of buzz, the deal is official! The world’s richest man Elon Musk has purchased social media microblogging site Twitter in a $44 billion deal. What’s got the crypto community excited is whether Elon Musk will add Dogecoin payments to Twitter anytime soon.

The tech billionaire has been a major fan of the Shiba Inu memecoin. Recently, Musk also proposed having Dogecoin payments to the Twitter Blue subscription services. Now that he owns the entire company, will he really bring this change?

Well, the DOGE price has shot up by 20% in the last 12 hours as Dogecoin makes its way into the top ten crypto-list once again. The DOGE price surged as high as 17 cents intraday as the memcoin manages to jump four ranks in a single day toppling the likes of Avalanche (AVAX), TerraUSD (UST), and Polkadot (DOT). On-chain data provider Santiment notes:

Potentially related to the news of #ElonMusk‘s nearly formalized purchase of #Twitter today, #Dogecoin has pumped +19% over the past six hours. We have historically seen that #memecoins benefit from #Musk developments.

Courtesy: Santiment

With the recent move, it seems that Dogecoin (DOGE) is covering up majorly on its 2022 losses. Speaking to Bloomberg, Teong Hng, chief executive of Hong Kong-based crypto investment firm Satori Research said:

“Elon has openly supported Dogecoin and previously talked favorably of this token. The “market is anticipating that he may incorporate Dogecoin as a payment system, hence this rally.”

Twitter-Elon Musk-Dogecoin

As we have seen, the news of Musk acquiring Twitter has seen DOGE fans getting excited. Earlier in January, Musk allowed Dogecoin payments to buy Tesla merchandise. Furthermore, the tech billionaire also believes that Dogecoin is better placed than Bitcoin for daily payments and transactions.

It is too early to claim that Musk would introduce DOGE payments to Twitter. His first goal with Twitter is to promote free speech while limiting the spread of misinformation and building trust among users. Upon his Twitter acquisition, Elon Musk said:

“I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”

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Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

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