After Elon Musk’s acquisition talks progress on Twitter…Will Dogecoin be Twitter’s original digital currency?
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Answer After Elon Musk’s acquisition talks progress on Twitter…Will Dogecoin be Twitter’s original digital currency?
After talks of Elon Musk’s acquisition of Twitter resurfaced, several speculations emerged about the possibility of Dogecoin becoming Twitter’s official digital currency.
In the latest development, Elon Musk proposed to buy Twitter at the original offer price of $54.20 per share.
In this context, Elon Musk’s close association with the DOGE project has led to new speculation.
Some in the Dogecoin crypto army on Twitter have questioned whether Dogecoin is likely to be the official cryptocurrency on Twitter.
The impact of “Elon Musk” and the possibility of adopting the digital currency Dogecoin:
Dogecoin is the largest memecoin in the cryptocurrency market with a market capitalization of $8.58 billion.
Read:Crypto.com cryptocurrency exchange supports Google Pay and Apple Pay in specific geographies
Elon Musk has in the past mentioned the word DOGE in his tweets on several occasions.
Any mention of Dogecoin by the founder of Tesla led to an immediate jump in DOGE prices on most occasions.
With reports of a new proposal from Elon Musk to acquire Twitter, memecoin has seen a significant rise in its price.
In the last hour, the price of Dogecoin increased by as much as 6.5%.
As of this writing, DOGE is at $0.064, up 6.87% in the past 24 hours, according to the platform. CoinMarketCap.
The current price level is close to the monthly high of Dogecoin, estimated at $0.067, and if this indicates anything, it indicates the extent of the influence of “Elon Musk”.
If Elon Musk buys Twitter, will Dogecoin become the platform’s official currency?
It remains to be seen if DOGE will indeed become Twitter’s official digital currency.
The proposal comes on the heels of an ugly legal battle over Musk’s interception of Bot’s Twitter accounts.
At one point, the Tesla CEO withdrew his offer to buy Twitter due to the latter’s lack of transparency about bot accounts.
Read:Bitcoin hash rate has grown over 4 quadrillion percent since 2009
In May of this year, he told Elon Musk that he had paused the Twitter takeover deal, which remained subject to checking for spam and fake accounts.
The $44 billion deal has been put on hold due to pending account details that spam or fake accounts account for less than 5% of users.
Musk emphasized the need to remove spam bots and programs from the social media platform.
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