Elon Musk Tweets About Dogecoin for First Time After Twitter Deal
Effectively properly, Elon Musk has spilled the beans and has hinted about Dogecoin (DOGE) coming to the Twitter platform very quickly. In his latest tweet, Elon Musk shared a pic of the Shiba Inu canine breed carrying a Twitter t-shirt. Thus, this fuels the continuing hypothesis that he might quickly convey DOGE funds to his newly acquired social media platform.
— Elon Musk (@elonmusk) November 1, 2022
That is the primary time after the Twitter deal, that Elon Musk has publicly spoken about his favourite memecoin DOGE. The tweet has completed sufficient to shoot the DOGE worth as soon as once more. As of press time, DOGE is buying and selling 15.68% up at a worth of $0.13 with an $18.3 billion market cap.
On a weekly chart, DOGE trades at greater than 125% good points. For the reason that rally on the weekend, the social curiosity within the cryptocurrency has spiked significantly. As on-chain information supplier Santiment stories:
Dogecoin continues to be +9% over the previous 24 hours, regardless of most of #crypto declining into the negatives after a giant weekend. Social dominance has been the first indicator, as crowd hype spikes have created native tops, and crowd worry foreshadowed bottoms.
Elon Musk and Dogecoin
Over the previous few years, Elon Musk has been an ardent supporter of Dogecoin. Actually, Musk believes Dogecoin to be higher than Bitcoin for making each day funds in crypto.
Musk’s assist for Dogecoin has led to a number of rallies prior to now. Even with the latest tweet, the DOGE worth shot up straight by 15% inside minutes. Many market analysts consider that with Elon Musk buying Twitter, DOGE funds might quickly come to the social media platform.
DOGE has staged an exceptional rally and is presently buying and selling at ranges final seen in Might 2022 earlier than the market crash. Cardano founder Charles Hoskinson has additionally proven interest in getting DOGE to Twitter.
“Dogecoin lastly has a use case. If elon decides to make use of it for twitter, then there are mechanically 200 million customers and a usecase. That’s much more actual than memes”, he wrote.
Moreover, he additionally stated that Dogecoin can function as an ADA sidechain and would do the mixing without spending a dime.