As Elon Musk’s Twitter deal enters the final lapse, Dogecoin surges by 35 percent

The long-drawn dramatic conflict between Twitter and Elon Musk is approaching its end. Elon Musk has already changed his Twitter bio to ‘Chief Twit,’ and it cannot get any more obvious than this. Musk is finally going to take the steering wheel of Twitter, and netizens are excited to see the changes he will bring. As the deal approaches a close following a war of words which soon turned into a legal war, Dogecoin is at the receiving end of most benefits. Ever since Musk changed his Twitter bio to ‘Chief Twit,’ the value of Dogecoin jumped by a whopping 35 percent. Doge enthusiasts are even holding tight to the hope that Musk taking over Twitter might prove to be a milestone moment for the cryptocurrency as well. Read along to know more.


Elon Musk and DOGE

Those closely following Musk on Twitter will be well aware of how every single tweet by Musk affects the value of Dogecoin. Every time the Tesla CEO, comments about the token, its value also takes a turn. At the moment, the value of DOGE has witnessed a 35 percent surge. This can be seen as the direct effect of the SpaceX CEO changing his Twitter bio to ‘Chief Twit.’ A similar surge was recorded in the month of April when Musk toyed with the idea of adding Dogecoin as a payment method for Twitter’s subscription service, Blue.

Although it is not clear what exactly attracted Elon Musk to Dogecoin, we know that Musk has always been quite vocal about his special interest in Dogecoin. The Musk effect on Dogecoin doesn’t need further explanation. Even the most cryptic of tweets by Musk in relation to DOGE has often resulted in record-high prices of the cryptocurrency. And now, Dogecoin supporters are toying with the idea that Dogecoin could become the currency of Twitter.

Crypto Wallet

Now as the long-drawn battle between Twitter and Musk comes to a close, Dogecoin is back in the spotlight. The rumors about Twitter prototyping its own crypto waller might have further enhanced the focus on DOGE at the moment.

Popular tech blogger, Jane Manchun Wong’s tweet on Monday suggests that Twitter is “working on a ‘wallet prototype’ that supports crypto deposits and withdrawal.” It is not yet clear which cryptocurrency or network will be backed by the wallet. Although Twitter hasn’t made any official announcements about a crypto wallet, it has given a probable preview of the same by letting users send bitcoin to creators through the platform.