Every time Musk claims the memecoin talks it all, the price of DOGE immediately increases. In actuality, Elon Musk has a lot to do with Dogecoin's popularity. There has been a pause in recent months after a period of constant mentions of the memecoin last year. In recent months, the DOGE price has primarily been ranging around the $0.058 mark.
Celebrity, just based on his Twitter activity.
Every time Musk claims the memecoin talks it all, the price of DOGE immediately increases. In actuality, Elon Musk has a lot to do with Dogecoin's popularity. There has been a pause in recent months after a period of constant mentions of the memecoin last year. In recent months, the DOGE price has primarily been ranging around the $0.058 mark.
Elon Musk's Dogecoin Initiative
DOGE gained a lot of attention in April after it was revealed that Elon Musk was poised to take control of Twitter for the first time. Many people wondered whether Elon Musk would allow Dogecoin payments to Twitter after hearing the news. The DOGE community was thrilled to learn that Musk intended to purchase Twitter for the first offer price. However, neither Musk nor the Dogecoin team made any official comments about the DOGE payment arrangements.
The CEO of Tesla had a conversation with a Dogecoin creator on Friday. He responded to a funny tweet from the Dogecoin Foundation's user interface and visual designer, DogeDesigner. Given his increased interest in acquiring Twitter and the potential for DOGE, this news is intriguing. Musk recently tweeted that acquiring Twitter would aid his next plans to create a "everything app."
Quickly Increasing DOGE
There was a sharp increase in the price of DOGE once it was revealed that Musk is willing to buy Twitter for the initial bid price. Following the announcement, prices increased by more than 8% right away. According to price monitoring service CoinGabbar, the price of DOGE is currently $0.06228 and has increased by 1.05% over the previous 24 hours. The price of DOGE might quickly soar if the takeover of Twitter is successful in the coming days.
Following the start of the current Twitter agreement negotiations, according to on-chain data, DOGE whales have transferred roughly 1 billion Dogecoins. The biggest memecoin is Dogecoin, which is also one of the top 10 cryptocurrencies by market cap.
