Dogecoin Prices Surge After Elon Musk Re-Agrees To Buy Twitter!
Recently, Elon Musk made headlines when he announced that he has decided that he may after all be buying Twitter after initially rejecting Twitter’s deal earlier this year.
Effect On $DOGE
According to Bloomberg, Elon Musks’ attorneys sent a letter to Twitter late Tuesday night offering to buy the social media platform for the offered price of $54.20 per share.
With Elon Musk being known to be a big supporter of Dogecoin and arguably one of the biggest influences for its popularity, it was a given that this news had caused the memecoin’s price to surge by quite a bit.
Buying Twitter is an accelerant to creating X, the everything app
— Elon Musk (@elonmusk) October 4, 2022
Since news of Musks’ new Twitter buy offer was revealed, $DOGE saw its price rise by more than 8% according to CoinMarketCap. At the time of writing Dogecoin is currently trading at a price of $0.0649.
Musk & Crypto
For a long time, Elon Musk has proven himself to be a big fan of cryptocurrencies, most often seen talking about Bitcoin and Dogecoin. In fact, multiple times in the past, the billionaire and CEO has voiced his opinion that digital currencies will be “the currencies of the world.”
Previously in the past, Musk had caused Dogecoin’s price to inflate a number of times through tweeting about the memecoin, talking about the memecoin, and even establishing the cryptocurrency as a valid way to buy both Tesla and SpaceX merchandise earlier this year.
It’s inevitable pic.twitter.com/eBKnQm6QyF
— Elon Musk (@elonmusk) July 18, 2020
With such a pro-crypto figure potentially buying Twitter, this event has massive potential for the future of the crypto space. Many in the community are already discussing possible ways that Musk could make the social media more crypto-friendly in the future.