November 30, 2022

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It has been a bit of a jumpy ride with Elon Musk trying his best to acquire Twitter. Most of the time, the decision by Twitter corporate was believed to be final in which they asserted that they had no mind of letting Twitter go, which resulted in the closure of the deal for good and as it was no longer on the table, Musk also lost his interest.

But due to the legal interference on both sides and working with each other to come up with a neutral solution, the deal is once again on the table, and Musk has successfully acquired Twitter.

Elon Musk’s Influence on Dogecoin’s Price  

Dogecoin, on the other hand, has always been tied with Elon Musk one way or the other by a hidden string, and whenever Musk makes any waves either into the Social, financial, or crypto world, the tremors reach Dogecoin to either increase or decrease its value.

This time around, the influence of Elon Musk was well received by Dogecoin, as it had a 13% surge in its price right away after the Twitter deal was escalated recently by Elon Musk.

It means that the crypto is once again running in the shadows of a bullish run should the Twitter deal conclude on a good note, the price momentum for Dogecoin will also continue the way it is now.

There are also talks by the tech advisors and social media experts that if the Twitter deal goes through and Musk manages to acquire the social media platform, then there will emerge a void among the company to incorporate a cryptocurrency to become its representative.

Also Read:  FTX CEO Explains How Blockchain Technology Can Help Social Media Become Interoperable

Dogecoin, according to the experts, can be that cryptocurrency to become the representative of Twitter as Musk adores Dogecoin and would really shoot for it other than giving the throne to any other random crypto out there.

Bitcoin will naturally not be a preference for Elon Musk on the grounds of it being a threat to the environment.


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