The rumors that Elon Musk is 'on track' to buy Twitter caused a significant spike in Dogecoin's USD valuation.
The rumors that Elon Musk is “on track” to buy Twitter caused a significant spike in Dogecoin’s USD valuation.
Reports claim that Tesla’s CEO – Elon Musk – will most probably become Twitter’s new owner. The entrepreneur is a keen supporter of Dogecoin, and the rumors caused a 15% spike in DOGE’s price. The world’s richest man – Elon Musk – and the social media platform – Twitter – have been interacting with each other numerous times in the past few months.over 70,000,000 of the company’s shares . He was also expected to join Twitter’s Board of Directors.his decision. Parag Agrawal – Twitter’s CEO – did not give a reason for the U-turn but opined: “This is for the best.”a $43 billion offer to buy the social media company.
Additionally, Tesla’s CEO has a significant influence on the cryptocurrency market with his comments and endeavors. As such, it is no wonder that DOGE surged by over 15% since the news about the possible acquisition emerged. Like most other digital assets, the first-ever memecoin started the day deep in red, trading at around $0.124, while currently, it is hovering at almost $0.15.that the token is better suited for payments than bitcoin.the memecoin as a payment method. Needless to say, Dogecoin’s USD valuation spiked by double digits almost instantly after the news.
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