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Home » Dogecoin Gains 30% as Elon Musk Makes Next Move On Twitter Deal!

Dogecoin Gains 30% as Elon Musk Makes Next Move On Twitter Deal!

James by James
October 27, 2022
in Altcoin News, General News
Reading Time: 2 mins read
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Is It Idea To Invest In Meme Coins Now That Dogecoin Has Continued to increase?
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The price of Dogecoin, the most popular meme coin and what most people think is Elon Musk’s favorite cryptocurrency, has gone up by more than 30% in the last two days. The billionaire’s Twitter deal is getting closer to completion, and the token’s value has fluctuated.

Dogecoin (DOGE) has grown to the point where it can be used as a stand-in for an opinion on Musk and has received a significant amount of support from him. Because of Musk’s most recent action, the value of the token went up even more. The price of a dogecoin, which was $0.08011 at the time this article was written and has increased by more than 36% in the past week, is shown below.

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Elon’s Twitter Acquisition Making Dogecoin Soar?

The recent bullish price action seen in Dogecoin can probably be attributed, at least in part, to Elon Musk’s recent announcements regarding his acquisition of Twitter. According to Coingecko, as of today, Dogecoin recorded its third green candle in a week, with a price increase of 36 % in 14 days and over 30 percent in the previous month.

Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7

— Elon Musk (@elonmusk) October 26, 2022

Additionally, DOGE’s market cap increased by 28% and was approximately $10 billion at the time of the aforementioned update. Additionally, the trading volume of memecoin has increased by approximately 200%, and at the moment, Dogecoin has a trading volume of approximately $1 billion per 24-hour period. Despite this, the token is currently trading at a value that is 67% lower than its all-time high of $0.7376, which was recorded on May 8, 2021.

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The total value of all cryptocurrencies on the global market reached $1 trillion after more than a month, representing an increase of over 3%. And the most well-known cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) are both experiencing price increases as well. During the previous week, the value of BTC increased by 8% while the value of ETH increased by over 20%.

Tags: DOGEdoge priceDogecoinElon Musktwitter deal
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James

James

James is a 33-year-old cryptocurrency enthusiast who has been involved in the industry since 2017. He has always been a keen follower of the crypto space and has experience in trading and mining cryptocurrencies. Since then, James has also written numerous articles on the subject and is passionate about sharing his knowledge and insights with others.

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