JAKARTA - Elon Musk has officially become the owner of Twitter, apparently having an impact on the green crypto market in recent days. DOGE, which has been predicted to have something to do with Elon Musk, rose after the announcement.
According to data in the Indodax market, DOGE experienced an increase of 111.46 percent in prices in the period October 25 - October 30. Meanwhile, according to data on Coin Gecko Tuesday, November 1, 2022, DOGE is now ranked eighth in crypto with the largest market capitalization beating Cardano and Solana.
Seeing this phenomenon, Indodax CEO Oscar Darmawan also gave his response. He said he was optimistic that DOGE would have better utility.
With this phenomenon, it is not impossible that rumors about DOGE being included in the Twitter ecosystem could come true. This opinion is based on Elon Musk's recent statement that he wanted to use the cryptocurrency to limit spam and use the blockchain system for Twitter, "explained Oscar, in a statement received.
Reflecting on the Indonesian market, DOGE is also one of the favorite cryptocurrencies in Indonesia. As an industry player, Oscar is also optimistic that the crypto ecosystem and blockchain in front will continue to grow.
If Elon's statement becomes a reality, the issue of DOGE's utility on Twitter will certainly make blockchain technology more massively used and closer to the needs of people around the world.
Even though DOGE is on the rise because of this phenomenon, Oscar still reminds the public not to do FOMO and still carry out research and proper analysis. "With the right analysis, it is hoped that investors will not be trapped in bull traps," explained Oscar.
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