Dogecoin (DOGE) saw an 8.2% increase in price as a result of Elon Musk’s renewed interest in Twitter.
Elon Musk, CEO of Tesla, has reiterated his intention to acquire Twitter for approximately $44 billion, according to a recent report.
The cryptocurrency that Musk is a vocal advocate for, Dogecoin, saw a significant price increase as a result, which may have been somewhat anticipated.
- Elon Musk‘s purchase of more than 70,000,000 TWTR shares in April of this year marked the beginning of the Twitter saga.He promised to buy the company for $44 billion and turn it into a private entity shortly thereafter.
- Despite Twitter’s acceptance of the multibillion-dollar offer, Musk changed his mind and put the deal on hold because the platform needed to resolve certain issues, such as removing all fake accounts and dealing with scams, before meeting him.
- Musk ended the contract with Twitter in July after declaring that the company had not “complied with its contractual obligations.”
- Yesterday’s reports revealed, in a sudden turn of events, that the entrepreneur has rekindled his interest and is prepared to purchase the business for approximately $54.20 per share, or approximately $44 billion, more than the initial offer.
- Dogecoin’s price skyrocketed on the news, despite having nothing to do with the issue at hand.
- Since the news broke, the cryptocurrency surged by approximately 8.2%.This is because Musk is one of the memecoin’s most ardent supporters and has worked hard to make it better with time and money.
- It is important to note that Tesla, a major manufacturer of electric vehicles, made it possible for customers to purchase company goods using Dogecoin earlier this year.
