Home » Dogecoin Jumps 35% As Elon Musk Finalizes Twitter Buyout

Dogecoin Jumps 35% As Elon Musk Finalizes Twitter Buyout

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Dogecoin once again proved its strong ties to self-proclaimed “Dogefather” Elon Musk, highlighting his Twitter. Acquisition There were reports Thursday night that he fired a key official at the social media giant.

DOGE Still Riding The Momentum Of The Bullish Move Crypto Markets Experienced A Few Days Ago uppercase letter On mask-related developments that surged 15% in just 24 hours. It also increased by 10% shortly after the billionaire changed his Twitter bio to “chief of twitter” and tweeted “birds freed”.

Musk also uploaded a nine-second clip of him walking into Twitter’s offices in San Francisco, California. The billionaire entered majestically, holding the sink aloft and emphasizing his point: “Let it sink”.

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However, the rise of Dogecoin coin gecko It shows that Dogecoin is trading at $0.0744. At the time of writing, Memecoin is down 6.7% on the intraday chart.

Still, dog-themed altcoins have posted impressive gains of 25.1% and 24.8% in the weekly and biweekly timeframes respectively. Plus, it’s up 35% since Monday.

Dogecoin’s Biggest Fan Now Owns Twitter

Following his criticism of social media platform censorship and bot issues, Tesla CEO Musk has joined the company’s board of directors. But that fame wasn’t enough for Dogecoin supporters. purchase Twitter is $44 billion.

That offer was withdrawn by Musk when he learned the company was underreporting issues related to Twitter bots.As a result, the company’s stock price fell sharply and was shaken. Twitter bosses have threatened to sue Musk for the role he played in causing the value of their company’s stock to plummet.

Image: Elon Musk Twitter

Musk has since agreed to reinstate his offer to buy Twitter. The deal, which closed on Thursday night, meant the social media giant was under new management.

Following this development, it was first reported that Twitter CEO Parag Aggarwal and CFO Ned Segal had stepped down.

However, successive reports from various news outlets suggest that Musk dismissed The two post-acquisition, along with the company’s legal director.

Twitter’s Encryption Direction

it has been rumored There is no official statement on this at the moment, but Twitter is in the process of prototyping a native crypto wallet.

According to technology blogger Jane Manchun Wong, a wallet the social media company is working on will have cryptocurrency deposit and withdrawal capabilities.

There is also no word yet on which cryptocurrencies or networks will be supported, or whether Dogecoin will be on the list of accepted altcoins for this feature.

Twitter has remained silent on the matter, but was already pushing the direction of cryptocurrencies forward after rolling out a tipping feature last year that allowed users to send bitcoin to creators through the platform.

In February of this year, Ethereum was also added as a virtual coin for the tipping function.

It’s no surprise that Musk, as the new Twitter big boss, allows him to use Dogecoin as a means of payment for content creators using the social media platform.

DOGE total market cap at $10.6 billion on the daily chart | Featured image from Watcher Guru, Chart: TradingView.com

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