DOGE rate rises by 4% after Elon Musk’s tweet

The entrepreneur offered a user to pay in meme coin for access to Twitter headquarters

23.03.2023 - 15:30

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What’s new? On March 23, the DOGE rate rose by 4% after new Twitter CEO Elon Musk mentioned meme coin in response to a request from user DogeDesigner (@cb_doge) to visit the social network’s headquarters. The billionaire said the user would need to pay 3 DOGE (about $0,23) to do so.

Hey Chief Twit @elonmusk I will be travelling to US next month to witness the Starship Launch. Would love to visit the bird app headquarters too. I spoke with someone from the team & they said, I need your permission to visit 🫡 pic.twitter.com/AToGSxf4iG — DogeDesigner (@cb_doge) March 23, 2023

What is known about DOGE? The meme cryptocurrency was created in 2013 by Billy Markus and Jackson Palmer. The token’s mascot is a Shiba Inu dog. In September, DOGE became the second most capitalized cryptocurrency on the PoW algorithm as Ethereum transitioned to PoS. As of 15:15 UTC, DOGE ranks eighth in the overall cryptocurrency ranking with a capitalization of $10,95 billion.

What else is known? DogeDesigner, who is the graphic and UX/UI designer of the Dogecoin project and crypto wallet MyDoge, wrote on Twitter that he plans to come to the United States in April to observe SpaceX’s launch of the starship in Texas. He added that he wanted to visit Twitter’s headquarters and asked Elon Musk for permission to enter the building.

“Ok, but it will cost 3 Doge,” Musk replied.

After Musk’s tweet, the price of DOGE rose to $0,0785. At the time of writing, the price of the asset has corrected to $0,0788, according to Binance.

Also on March 23, WhaleAlert analytical service recorded two large transactions totaling 930 million Dogecoin made by anonymous wallets. The funds were also sent to unknown wallets.

First transaction

Second transaction

Musk previously said he would eat Happy Meal live on television if McDonald’s started accepting Dogecoin as a payment option. Lawyer John Deaton then warned that the US Securities and Exchange Commission (SEC) could classify DOGE as security if Twitter began accepting payments solely in meme coin.

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