Dogecoin Price Surges Over 20% As ¡®Dogefather¡¯ Elon Musk Strikes Deal With Twitter

Since 2021, Tesla CEO Elon Musk has signalled multiple times that he is a dogecoin lover, time and again tweeting in favour of the memecoin.

His undying love for dogecoin is evident from his tweets, whether it's about stating dogecoin as ¡°people¡¯s crypto¡±, being called the self-proclaimed 'dogefather' or pitching dogecoin as payment for Tesla merchandise, Mcdonald's and even recently for Twitter Blue.

And almost every time the world¡¯s richest person has tweeted about dogecoin, its price has surged.

But this time, dogecoin¡¯s price surged without Musk mentioning the memecoin in a tweet.

Wondering why? It's because the ¡®Dogefather¡¯ bought Twitter.

Reuters

Meanwhile, Twitter shares ended the day 5.6% higher after the announcement.

For the uninitiated, dogecoin is based on the 2013 Internet meme doge and was created in jest in the same year. It began gaining some relevance last year after the Tesla CEO endorsed it and continued hyping the cryptocurrency on social media.

2021 also saw a lot of Musk¡¯s tweets toying with the crypto market, whether they were related to bitcoin, dogecoin or some other cryptocurrency.

Here are some of the tweets surrounding his favourite dogecoin.

Tesla will make some merch buyable with Doge & see how it goes

¡ª Elon Musk (@elonmusk) December 14, 2021

I¡¯ve been saying this for a while

¡ª Elon Musk (@elonmusk) August 14, 2021

The Dogefather
SNL May 8

¡ª Elon Musk (@elonmusk) April 28, 2021

In addition to being a dogecoin influencer, Musk¡¯s Tesla is one of the biggest corporate buyers of bitcoin. Those who hope to see Twitter integrate more crypto native features will be keeping an eye on whether or how Musk prioritizes crypto as he acquires Twitter.

Also Read: Elon Musk Says Dogecoin Is Better For Transactions Than Bitcoin

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