Dogecoin (DOGE) Gains 8% As Elon Musk Revives Twitter Deal

Dogecoin DOGE Gains 8 As Elon Musk Revives Twitter Deal

The DOGE Army received some great news on Tuesday, October 4th, as Elon Musk has seemingly decided to proceed with his Twitter buyout deal. The news was confirmed by Bloomberg, after Musk’s lawyers filed an official proposal to acquire the social media platform for $54.20 per share. The groundbreaking news saw the price of Dogecoin (DOGE) catapult approximately 8% shortly thereafter.

Dogecoin’s (DOGE) Future as the “Currency of the Earth”

Tesla’s CEO loves the idiomfate loves irony, having declared his love for the top dog meme currency on multiple occasions. Allegedly, Elon Musk’s grandiose plans for Dogecoin (DOGE) includes implementing the beloved token into Twitter’s ecosystem. For instance, it was suggested that a person could have to pay 0.1 Dogecoin (DOGE) in order to publish a tweet. Furthermore, the dog-themed cryptocurrency could be made available as an option to pay for Twitter ads.

Elon “The Dogefather” Musk’s has previously talked about plans to release an all-in-one app called ‘X’. While Dogecoin’s (DOGE) Founder Shibetoshi Nakamoto sarcastically expects the ‘X’ app to be able to fold his laundry, YouTuber and crypto influencer Matt Wallace took the notion a step further, preaching that Dogecoin (DOGE) could become “the currency of the Earth” in the future.

The 5% Debate: How Many Bots Are There Really?

As previously reported, Elon Musk’s deal with Twitter initially fell through because Twitter CEO Parag Agrawal asserted that the percentage of bot accounts on the social media platform does not exceed 5%. There has been a great deal of speculation on the topic ever since, with some claiming that Twitter has concealed crucial information related to bots and the overall security of the micro-blogging platform.

Be that as it may, in the wake of the news on Wednesday morning, numerous Twitter users believe that things have changed for the better. Dogecoin (DOGE) Founder Billy Markus claims that he lost around 200 followers in the span of a couple of hours, while YouTuber Matt Wallace asks: “Where did the bots go?”.

Ultimately, the founder of the leading meme coin sees Elon Musk’s acquisition of Twitter as a win-win situation; not only for Dogecoin (DOGE), but for the planet.

On the Flipside

Why You Should Care

If Musk closes the deal for Twitter, it could cause a marginal increase in the speed of crypto adoption.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Author

Tadas Klimasevskis is an author & reporter, focusing on the latest tendencies of the crypto galaxy. Tadas spends his time digging deeper into specific areas like coins such as Shiba Inu (SHIB) & Dogecoin (DOGE), music NFTs, sports NFTs, digital art, and Pop culture in Web 3.0. Tadas strongly believes in crypto as disruptive innovation and keeps an eye out for new crypto hubs being developed around the globe. His vast experience in social media lets him quickly spot what’s going on in the mercurial world of crypto and deliver stories with unique spins. He has been active in blockchain and cryptocurrencies since 2019.