Elon Musk’s Acquisition of Twitter Led to a Sharp Rise of Dogcoin.

Reported that Tesla’s CEO – Elon Musk – is likely to become the new owner of twitter. The entrepreneur is an enthusiastic supporter of dogecoin, and these rumors have led to a 15% surge in the price of Doge.

The world’s richest man – Elon Musk – and social media platform – twitter – have interacted many times in the past few months. A few weeks ago, Tesla’s CEO purchased more than 70 million shares of the company (9.2% of the total shares of the platform). He is also expected to join Twitter’s board of directors.

But soon after, musk overturned his decision. Parag Agrawal, Twitter’s CEO, did not give the reason for the turnaround, but thought. “It’s best to do so.”

The legend did not stop there. A few days later, musk offered to buy the social media company for $43 billion. He said twitter had “extraordinary potential” that could be unleashed with his help.
According to recent reports, the two sides will indeed shake hands and make peace, and may become a formal agreement as early as today – April 25. Shortly after the news, Twitter’s stock rose 3% in pre-session trading.

In addition, the comments and efforts of Tesla’s CEO have a significant impact on the cryptocurrency market (especially his favorite token, dogecoin). Therefore, it is not surprising that Doge has soared by more than 15% since the news of a possible acquisition.

Like most other digital assets, the first commemorative coin in history was at a deep loss at the beginning of the day, trading at about $0.124. At present, it hovers at nearly $0.15. The entrepreneur often praises the advantages of Doge. At the end of 2021, he thought the token was more suitable for payment than bitcoin.

Nearly a month later, his electric car giant, Tesla, accepted memecoin as a way of payment. Needless to say, dogecoin’s dollar valuation soared to double digits almost instantly after the news was released.