Elon Musk Back At Involving Dogecoin (DOGE) On Twitter? Here’s Why
No other celebrity does have as large an impact as Elon Musk does on Dogecoin (DOGE), merely from Twitter activity. That DOGE price immediately jumps whenever Musk mentions the memecoin speaks it all. In fact, a large part of Dogecoin’s popularity can be attributed to Elon Musk. After a spell of continuous mentions about the memecoin last year, there has been a lull in recent times. The DOGE price has largely been fluctuating around the $0.058 level in recent times.
Elon Musk And The Dogecoin Project
Following the news that Elon Musk was about to first takeover Twitter in April, there was huge traction for DOGE. The news got many people thinking if Elon Musk would enable Dogecoin payments to Twitter. In a latest, with Musk’s intent to buy Twitter at original offer price, the DOGE community was elated. However, there was no official hint from neither Musk nor the Dogecoin team about the DOGE payments plans.
On Friday, the Tesla chief executive officer had interacted with a Dogecoin designer. He replied to a witty tweet from DogeDesigner, a user interface and graphic designer at the Dogecoin Foundation. This is an interesting development considering his renewed interest in acquiring Twitter and future prospects of DOGE. Musk recently tweeted suggesting that buying Twitter would help his future plans of building an ‘everything app‘.
“Buying Twitter is an accelerant to creating X, the everything app.”
Sudden Rise In DOGE
After news came out that Musk is willing to acquire Twitter at original offer price, there was a sudden spike in DOGE price. There was an immediate price spike by more than 8% following the announcement. As of writing, DOGE price stands at $0.06233 up 1.19% in the last 24 hours, according to price tracking platform CoinMarketCap. If the Twitter takeover deal goes through successfully in coming days, DOGE price could skyrocket in short span.
On chain data shows that DOGE whales have transferred around 1 billion Dogecoins after the new Twitter deal talks began. Dogecoin holds the distinction of being the largest memecoin and a cryptocurrency ranked 10 based on market cap.
- October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges
- Hashdex Adds Cardano to Crypto Index Fund as ADA Gains SEC Listing Eligibility
- U.S. Treasury To Ease Tax Rule on Unrealized Bitcoin Gains, Aiding Saylor’s Strategy
- Trump-Backed World Liberty (WLFI) Plans RWA Tokenization Paired with USD1 Stablecoin
- Stripe Eyes U.S. Banking Charter, Pioneers One-Click Stablecoin Issuance for Firms
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
- Analyst Predicts Dogecoin Price Surge as DOGE ETF AUM Hits $20M
- Ethereum Price Eyes $8,600 As Institutions And Whales Double Down
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
