Elon Musk Plans to Buy Twitter Again, Dogecoin (DOGE) Price Rises!

The price of Dogecoin rose after Elon Musk announced buying Twitter again. (Photo; Doc. Unsplash)

JAKARTA – Tesla boss, Elon Musk, is reportedly planning to buy Twitter again. Musk made an offer for Twitter stock at $54.20 per share. The offer was meant to buy a social media company with the blue bird logo. After announcing the plan, TWTR's share price skyrocketed 12 percent.

Previously, Musk had discussed adding a Twitter feature where users can pay for the premium Twitter Blue service using the cryptocurrency Dogecoin (DOGE). But the deal fell through, due to bot account problems that dominate the Twitter platform.

Bloomberg reports that the trial scheduled for October 17, in which Twitter's board sues Musk for pulling out of the original deal, may not take place. The Twitter board is seeking to force the sale through legal channels, and the court case will examine the use of bots on Twitter in the public arena.

DOGE Price Goes Up

When the news surfaced, the price of DOGE rose 8 percent from a price of IDR 920 to a price of IDR 997 US dollars per coin, according to Coingecko data. Dogecoin had an all-time high price (ATH) at IDR 10,338 per DOGE on May 8, 2021.

Previously, Elon Musk was forced to face a $258 billion lawsuit because he was accused of pumping DOGE. Even so, Musk is indeed known as a supporter of Dogecoin. Hence, every time the Tesla boss tweets DOGE, the coin responds with an increase in volume and price in the short term.

However, in June 2022, Musk denied the allegations. He admitted publicly to giving his support for Dogecoin privately.

“I intend to support Dogecoin personally because I only know a lot of people who are not that rich who have encouraged me to buy and support Dogecoin. So I responded to those people", Musk said, quoted by CryptoSlate.

Musk's last public reference to Dogecoin was in September when he promoted a Cybertuck-inspired whistle that could only be purchased via Tesla's website using DOGE. The whistle is available for 1,000 DOGE and is currently out of stock. Musk also briefly announced that Tesla merchandise could be purchased with DOGE in May.

Now Musk is back on Twitter for the second time. The DOGE community is looking forward to the deal. The reason is, the Tesla boss plans to add a DOGE payment feature on the Twitter platform. If a purchase occurs, this has the potential to provide a breath of fresh air to the DOGE price itself.