Doge soars
Dogecoin (Doge), a cryptocurrency that was approved by Elon Musk to buy products and services from Tesla, surged nearly 30% on the eve of Musk’s acquisition of Twitter.
According to data recorded from CoinMarketCapvalue of Dogecointhe meme coin used to be Elon Musk referrals, rose to nearly 0.17 USD soon after some sources leaked that the board Twitter prepares to sell the company to Elon Musk.
Dogecoin price spiked right before Elon Musk took over Twitter Screen capture |
Dogecoin is a cryptocurrency that contains the Shiba Inu meme. For a long time, this is the coin that Elon Musk loves and often promotes on social network. Musk also promised to add a Dogecoin option on Twitter if he successfully acquires the platform.
Previously, Tesla allowed users to pay for many products and services with Dogecoin, most recently at Superchargers electric vehicle charging stations located around Hollywood (USA) in mid-February 2022. At the same time, Musk also revealed that Doge (Dogecoin) will be accepted at “future eateries, drive-in theaters planned to open throughout the Hollywood area.”
Comments by Teong Hng, CEO of crypto investment company Satori Research in Hong Kong: “Elon (Musk) has long favored and openly supported Dogecoin. The market is anticipating that he might incorporate Dogecoin as a payment system.”
More cautiously, Noelle Acheson, head of market research at Genesis Global Trading, said Musk “hasn’t talked about plans to integrate Dogecoin yet,” but that the coin is “enough to make traders proud. interested in potential profits, although this possibility is still very remote.”
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