Dogecoin has risen by 29% after confirmation of Elon Musk’s Twitter purchase

The cryptocurrency has taken first place in terms of the change in value per day

26.04.2022 - 07:35

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What’s new? The Dogecoin cryptocurrency has risen in price by 29% per day (according to Binance). This came after it became known about Elon Musk’s purchase of the social network Twitter. As of 10:15 Moscow time on April 26, 1 DOGE is worth $0,158, the coin’s capitalization rose to $20,97 billion. The altcoin has become the market growth leader in the past 24 hours.

Official press release

What is known about the deal? According to published data, the deal will be worth $44 billion. Elon Musk expressed hope that even his worst critics will remain on Twitter “because that is what free speech means.”

How does this affect the value of Dogecoin? Elon Musk has repeatedly advocated for this cryptocurrency, causing sharp fluctuations in the price with his tweets. In December 2021, he stated that Dogecoin is better for everyday payments than BTC. And in January this year, Musk suggested that Mcdonald’s start accepting Dogecoin as payment. Also on April 10, the entrepreneur proposed integrating payments in Dogecoin into Twitter to pay for a Twitter Blue subscription.

What had happened before? On April 22, the Dogecoin Foundation conducted the first offline transaction using the Starlink satellite network. The Dogecoin Foundation aims to make Dogecoin an international means of payment.

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