Elon Musk Twitter takeover bid approval boosts DOGE quotes
As the New York Post has just learned, Elon Musk’s offer to buy Twitter has been unanimously approved by the social network’s board of directors. DOGE, which had been rising all day on rumors of a possible approval of the deal, immediately responded with a 9% increase, bringing cumulative daily growth to nearly 19%.
At the moment, the price per DOGE is 0.0685 cents, with a total capitalization of Dogecoin of 8.9 billion dollars. This capitalization value puts the former memecoin, now a payment instrument, in tenth place in CoinMarketCap’s top by market capitalization.
DOGE barks, bird tweets
The main reason for the rapid growth of DOGE ratings lies precisely in the actions of the main supporter of the coin, Elon Musk. In particular, just today, Musk said it made sense to integrate Twitter payments, including crypto, and also floated the idea of allowing the Twitter Blue service to be paid in DOGE. After the announcement of the approval of the offer, the quotations immediately jumped.
On the subject of Twitter payments, it is also worth mentioning the entrepreneur’s statements about the possibility of making Twitter chargeable for some users. According to that statement, for ordinary users, access will have to remain free, but for commercial and government accounts it will probably go for a small fee. It is not clear what these amounts and conditions will be.
Musk himself has yet to comment on the latest news. Remember that his takeover of Twitter was accompanied by a lot of controversy. After the purchase was first announced in April, the deal was put on hold when Tesla’s creator wanted to conduct an audit of the bot count. Then, the process did not move and there were even rumors of lawsuits against the entrepreneur by the board of directors. It’s also worth noting that after the first news of Musk’s purchase of Twitter, Dogecoin saw its stock prices skyrocket by 30%, double the current growth.