• Sat. May 21st, 2022

Dogecoin Joins Other Cryptocurrencies to Surpass 30% in Elon Musk’s Twitter Acquisition

ByHazel R. Lang

Apr 26, 2022
  • News of Elon Musk’s Twitter Takeover Pushed Dogecoin Price Above 30%
  • The cryptocurrency believed to be Musk’s favorite was teased by him as a means of payment on Twitter
  • Currently, Dogecoin is accepted by Tesla as a form of payment and has brought the market capitalization of the entire ecosystem to over $35.7 billion.

One of Elon Musk’s top cryptocurrencies, Dogecoin rebounded after news broke that the world’s richest man bought microblogging site Twitter for a whopping $44 billion on Monday, April 25, 2022 .

Doge has maintained an uptrend since announcing the Twitter acquisition. The crypto is currently trading over 30% in the past 24 hours, leading to a general rally in the broader cryptocurrency ecosystem, according to Nairametrics.

Read also

Trevor Noah breaks down what Elon Musk’s takeover of Twitter means, people share mixed reactions to his views

Elon Musk, Twitter, Dogecoin, Crypto
Dogecoin makes a huge comeback after Elon Musk buys Twitter Credits: SOPA Images / Contributor
Source: Getty Images

The market capitalization of the crypto market now stands at 5.77% and analysts expect it to rise.

Trending data from Google indicates that not just the price of Dogecoin, but the rest of the crypto as searches for Doge have exploded exponentially in the past 24 hours, the same timeline as Elon Musk’s acquisition of Twitter has been announced.

What Musk plans to do with Twitter

Musk said after acquiring the site that freedom of speech is the foundation of a functioning democracy, saying Twitter is the digital public square where issues important to the future of humanity are discussed.

The world’s richest person said he wanted to make Twitter better than before by improving the product with new features and tweaking open-source algorithms to build trust and defeat spambots and verify all humans.

Read also

Twitter founder Jack Dorsey pockets over N400bn from Elon Musk acquisition but says he has regrets

Twitter will be delisted from the New York Stock Exchange and made private once the transaction closes.

Dogecoin Pulls Other Cryptos to a Higher Trajectory

Coindsek Reports that other Meme coins like SHIB, ELON, SAMO, MONA and HOGE have seen their market prices increase by 10% and more. This brought the total capitalization of the entire cryptocurrency system to $35.7 billion, up 20%.

Analysts say the reason Dogecoin is rallying so much is because Elon Musk hinted it would be a means of payment on Twitter. He mentioned Dogecoin as one of the payment options for Twitter Blue, the subscription side of Twitter with special features.

The crypto hit the top 10 by market cap for the first time in 2022.

Twitter shares ended the first trading session down 5.66% and are currently trading at $51.70 per share after Musk’s takeover announcement.

Read also

Former Twitter CEO Jack Dorsey breaks silence after Elon Musk buyout: ‘Take your billions and go’

Already, Tesla, owned by Elon Musk, accepts Dogecoin as payment on its virtual goods stores.

The income from my secondary activity exceeded that of my paid employment, says a woman

Meanwhile, Legit.ng reported that in 2014, Sharon Tseung took a month-long solo trip to Europe, inspired by her own version of financial freedom.

She spoke with all kinds of people from all walks of life who were equally passionate and it made her realize what she was missing.

Tseung said she started researching digital nomads and how to generate passive income. In May 2016, after saving enough money to take care of her travels throughout Europe, Asia, the United States and Canada, she quit her job in digital marketing and began to build your own passive income.

Source: Legit.ng

Source link