The millionaire CEO of Tesla, Elon Musk, is understood for favoring the cryptocurrency Dogecoin (DOGE). The market intelligence platform Santiment claims that DOGE’s volatility has grown with the latest acquisition of Twitter.
On Nov. 1, when the well-known memecoin reached a peak of about $0.15, Santiment famous Musk’s “long-forgotten” impact on Dogecoin. The market intelligence platform thinks the billionaire’s tweet, which featured a Shiba Inu canine wearing “garments” bearing the Twitter emblem, is what prompted the latest abrupt worth motion.
Dogecoin being integrated into the microblogging system
Many individuals assume that Musk is making a reference to Dogecoin being integrated into the microblogging system.
The latest rumors have emerged instantly following the billionaire’s announcement that Twitter will allow content material creators to monetise their work whereas “Twitter Blue” utilization could incur a $8 month-to-month subscription.
Musk additionally thinks that the month-to-month worth will “kill the bots” in response to Michael Saylor of Microstrategy. Information from CoinCu exhibits that DOGE is at the moment buying and selling at $0.143, up 13% over the day before today. Market capitalization of the memecoin rose to a staggering $19 billion with a $7.8 billion 24-hour buying and selling quantity.
In response to CMC, Dogecoin has overtaken Cardano (ADA) and Solana (SOL) to change into the eighth-largest cryptocurrency by market valuation. This occurred in lower than per week.
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