Dogecoin (DOGE) surged by 9% in the past hour following reports of Elon Musk being close to purchasing the entirety of Twitter at $54.20 a share. By shauryamalwa
Dogecoin's price and Musk’s imminent takeover of Twitter are not directly correlated. However,say Musk’s repeated endorsement of the memecoin attracts speculation from crypto investors hoping for dogecoin to be included in Twitter’s long-term plans.
“The speculation is that advertisers could be able to pay DOGE for ads and for other uses on Twitter,” Kryptomon Chief Marketing Officer Tomer Nuni explained to CoinDesk earlier this month. “We have seen the same happening when Tesla revealed the ability to pay for its goods with DOGE. So the speculation could be around Musk’s businesses and stakeholdings starting to accept crypto, as Tesla does.
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