ALTWOW LOGO ALTWOW LOGO
  • HOME
  • PR
  • ALTCOINS
  • AIRDROP
  • DEFI
  • NEWS
    • Bitcoin News
    • Blockchain News
    • Exchange News
    • ICO News
    • Mining News
    • Regulations News
  • EXCHANGE
  • CASINO
  • MORE
    • Advertising
    • ICO
    • Web Hosting
    • Affiliate Program
    • Wallet
    • Apps
    • BOTS
    • Cards
    • MINING
Reading: Dogecoin is soaring again! Musk confirms that the acquisition of Twitter is expected to bring long-term benefits?
Share
Ad image
Altwow Blogging WowAltwow Blogging Wow
Font ResizerAa
  • ABOUT
  • TOS
  • Cookie Policy
  • Comment Policy
  • Disclaimer
  • Privacy Policy
  • Advertisement
  • Submit Guest Post
  • Sitemap
Search
  • HOME
  • PR
  • ALTCOINS
  • AIRDROP
  • DEFI
  • NEWS
    • Bitcoin News
    • Blockchain News
    • Exchange News
    • ICO News
    • Mining News
    • Regulations News
  • EXCHANGE
  • CASINO
  • MORE
    • Advertising
    • ICO
    • Web Hosting
    • Affiliate Program
    • Wallet
    • Apps
    • BOTS
    • Cards
    • MINING
Have an existing account? Sign In
Follow US

Home - Dogecoin is soaring again! Musk confirms that the acquisition of Twitter is expected to bring long-term benefits?

Crypto News

Dogecoin is soaring again! Musk confirms that the acquisition of Twitter is expected to bring long-term benefits?

Wow News
Last updated: 28/04/2023 1:15 pm
Wow News
Published: 06/10/2022
Share
Dogecoin is soaring again! Musk confirms that the acquisition of Twitter is expected to bring long-term benefits?
SHARE

Dogecoin (DOGE) soared more than 8% today (5), in addition to following the overall market trend, it also received the support of the number one “fanboy” Musk. The Tesla and SpaceX CEO has confirmed that he is willing to carry out a deal to buy social media Twitter.

Originally, Musk was about to enter a lawsuit battle with Twitter. He announced the acquisition of Twitter in April, but later backtracked and refused to complete the deal, citing the number of Twitter users involved in some fake accounts.

The latest report pointed out that Musk sent a letter to Twitter confirming the acquisition of Twitter for the originally proposed $44 billion price. As shown in the chart below, Musk’s controversial words and deeds have been the main reason for the wild swings in Twitter’s stock price. During this period, Twitter’s stock price fell like a roller coaster, from $55 per share to $35, and rose 22% to $52 on the 4th, halting trading at one point during the session.

So why is Musk buying Twitter, which is bullish news for Dogecoin? While Dogecoin has risen along with Bitcoin and other large cryptocurrencies, it has lost momentum recently and may be poised to backtest previous support levels.

- Advertisement -

Today, Dogecoin is up 8% today, with soaring volatility and bullish momentum. The chart below shows that Dogecoin finally broke out of a tight trading range and re- entered the important $0.064 range.

News related to Musk often drives the price of Dogecoin up or down. Musk has always been a staunch supporter of Dogecoin. According to researcher Santiment, the latest development has led to two bullish factors for Dogecoin.

Dogecoin ’s big investors and large funds have seen a surge in deals as Musk confirmed the tweet . Unlike previous surges, Santiment did not observe a spike in funding rates amid the Dogecoin price surge .

In other words, traders are not using high leverage to trade Dogecoin. From this point of view, Santiment believes that Dogecoin has the potential to rise in the short term.

In addition to the big players driving the price of Dogecoin, another major factor is that Musk’s acquisition of Twitter may bring a long-term bullish factor for Dogecoin. Twitter has embraced cryptocurrencies, but also added blockchain capabilities.

- Advertisement -

Twitter has allowed users to set NFTs as their profile photos, and has allowed users to accept “tips” from fans in bitcoin or ether . If Musk’s acquisition of Twitter is completed in the next few months, Musk may include Dogecoin among the few cryptocurrencies supported by Twitter, thereby increasing the adoption of Dogecoin.

Share This Article
Facebook Email Print
How to Build a Crypto Mining Rig: Step-by-Step Guide for Beginners
How to Build a Crypto Mining Rig: Step-by-Step Guide for Beginners
Uncategorized
How to Download Cudo Miner: Step-by-Step Guide
How to Download Cudo Miner: Step-by-Step Guide
Guide
How to Pay Taxes on Crypto Staking Rewards: Step-by-Step Guide
How to Pay Taxes on Crypto Staking Rewards: Step-by-Step Guide
Guide
Where Is Bitcoin Mined? Discover Top Crypto Mining Locations
Where Is Bitcoin Mined? Discover Top Crypto Mining Locations
Guide
ALTWOW LOGO

Altwow.com is your reliable source for the latest crypto news, exchange reviews, and blockchain insights. We provide accurate information on DeFi projects, trading platforms, and digital assets to help investors stay ahead in the fast-moving world of cryptocurrency.

[mc4wp_form]

Qucik Menu

  • ABOUT
  • TOS
  • Cookie Policy
  • Comment Policy
  • Disclaimer
  • Privacy Policy
  • Advertisement
  • Submit Guest Post
  • Sitemap

Quick Link

© ICURE Network. ICURE Design Company. All Rights Reserved.

Follow US on Socials

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?