DOGE price up 4 days in a row

Stay Tuned with MEXC Global (10/27/2022)

Elon Musk, the creator of Tesla, tweeted about his reasons for buying the social media juggernaut Twitter just one day before it was officially acquired on Friday. Total expenses for the transaction will be $44 billion. Musk stated that one of the reasons he purchased Twitter was so that he could develop this community into a shared digital town square where everyone could express their varied viewpoints without running the risk of online violence. The news has been reflected in Dogecoin's (DOGE) pricing.

Elon Musk also stated that:

In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play videos ranging from all ages to mature.

DOGE Price 8H (Source: TradingView)

Prior to Musk's post, the price of DOGE had already increased by 30.6% over the previous week, rising by 15.23% on Wednesday to reach its highest level since mid-August of $0.081. Musk revealed in December that Tesla would test accepting dogecoin as payment for its goods.

However, Musk's cryptocurrency ambitions for Twitter remain a mystery. Now that we think about it, are there any chances Musk will accept cryptocurrency payments on Twitter if he successfully acquires Twitter on Friday (which is highly likely)? particularly Dogecoin. This may be the cause of the enthusiastic response from die-hard Dogecoin supporters to this purchase.

The purchase of Twitter has been a drawn-out affair that has lasted for months. On April 14, Musk made his initial offer to purchase Twitter. Twitter first rejected the offer, but on April 25 accepted a $44 billion offer. Twitter was attempting to use a trial later in July to compel Musk to continue the contract. The trial began in October, and around October 4 Musk made the decision to buy Twitter regardless of the outcome of the case. Additionally, he went to the Twitter headquarters yesterday, which helped drive up the price of DOGE.

Additional Thoughts

Sincerely, I find it rather amazing to watch a millionaire engage with others and create a welcoming online community. I won't be surprised if Elon Musk chooses to utilize Bitcoin and Dogecoin as payment for Twitter since he founded Tesla and Starlink. I can't wait to see what the future holds for Twitter and Dogecoin. The cost of DOGE is still considerably less than its all-time high, which was $0.74 in May 2021. What do you think, then?