Dogecoin Prices Rise After Elon Musk Buys Twitter, DOGE Hasn't Been To The Moon But Just Took Off?

Mata uang kripto Dogecoin (Photo; Kanchanara - Unsplash)

JAKARTA – Recently, the price of Dogecoin (DOGE) has increased significantly, triggered by the purchase of Twitter by Elon Musk. DOGE also managed to return to the top 10 cryptocurrencies based on their market capitalization of IDR 310.135.714.336.967 according to Coingecko data.

According to U.Today, Twitter has accepted Elon Musk's offer to acquire the social media giant for about $44 billion, according to an official press release.

After the purchase, the price of the DOGE meme coin skyrocketed by a dozen percent last night. Even at the time of writing, Dogecoin's price performance is still continuing. Data report from Coingecko explains that DOGE has increased by 23.7 percent in the last 24 hours.

According to the report, Twitter shareholders earned $54.20 per share, representing a 38 percent premium. Elon Musk said the price was the final bid.

Even so, it is not clear when the transaction will be completed as the massive deal requires regulatory approval. Previously, Technoking of Tesla considered that Twitter had great potential. Musk promised to unlock that potential.

He plans to add an edit feature and add tip payments with Dogecoin. It doesn't stop there, the SpaceX founder will also eradicate Twitter bot accounts and prioritize free speech as an important part of democracy.

On April 25, Dogecoin was trading at IDR 1.800, following the announcement of the Twitter acquisition, DOGE was trading at IDR 2,303 according to Coinecko data report. This increase also prompted one of the big players and supporters of Bitcoin, Barry Silbert, who thought about buying Dogecoin.