Dogecoin Price Spikes Following Elon Musk’s Twitter Acquisition

05/12/2022
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Long-term Dogecoin fanatic, Tesla & SpaceX CEO Elon Musk locked his Twitter deal a couple of days again which changed into a blessing for Dogecoin holders with the value of the coin spiking since Musk’s acquisition.

In August, “Chief Twit” Elon Musk revealed he’s “Mainly” supporting Dogecoin noting that the precise whole transactional throughput functionality of Doge is way greater than bitcoin.

With the monumental Twitter acquisition, the group believes Elon will introduce methods to introduce Dogecoin into the social media platform. 

Multiple theories are being shared on how Elon Musk will incorporate his favourite meme token into Twitter with a few of them saying {that a} Dogecoin-based tip system could be created for hit tweets.

According to Coingecko, Dogecoin’s market cap surpassed Cardano, Solana, and Polygon changing into the eighth-largest cryptocurrency on the planet on the time of writing, with a $16.3 billion market cap.

Currently, Dogecoin is buying and selling at a value of $0.119, with a rise of 94% within the final seven days.

Two weeks again, Elon Musk’s ‘Boring Company’ began accepting Dogecoin together with fiat funds for its new fragrance “Burnt hair.” 

In January, Tesla started accepting Dogecoin for merchandise. In May, Musk’s spacecraft firm, SpaceX, adopted go well with.

Compiled by Coinbold

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