The recently completed deal with Twitter has sparked the prices of cryptocurrency dogecoin which has been able to witness a price rise of about 10% in the recent 24 hours accounting for the total rise in the value of the cryptocurrency by 7.92 cents, on the crypto exchanges. The rise in the cryptocurrency price has been witnessed by the trust of Elon musk in this cryptocurrency as an investment option.
What is Dogecoin?
Dogecoin is a cryptocurrency that was started as a joke on the craze and the hype of cryptocurrencies in recent times. The cryptocurrency was made as dog memes at the time of its introduction. This was appealed in the cryptocurrency space and was introduced as a full-fledged cryptocurrency in the next phase. The cryptocurrency was introduced in 2013 and later was widely accepted, after it was pitched by Elon musk as a viable crypto investment option. Elon musk allowed cryptocurrency as the method of payment in the purchase of tesla cars as part of the increased trust factor by Elon musk in cryptocurrency. The cryptocurrency is considered a volatile cryptocurrency because of its market acceptance and the rise of other cryptocurrency competition in the crypto markets. This cryptocurrency token is traded with the symbol of DOGE in cryptocurrency exchanges.
What is Twitter?
Twitter is an American social network and communication platform which is used for sharing opinions and the interactions can be continued in the forms of social shares and likes. The platform was recently acquired by Elon musk at a whopping cost of $44 billion and the tech company plans to introduce many changes to the platform in the near further to transform the interface of the social network and communication in the near future. The platform has been vocal about free speech and social rights in recent times.
Who is Elon musk?
Elon musk will be the next owner of twitter after the finalized deal on Friday. The tech innovator has been pitching cryptocurrencies in recent times and along with the acceptance of the cryptocurrencies for the purchase of the tesla cars made by his company tesla motors. From the initial days of the cryptocurrency dogecoin, he has been keen in his stance on this cryptocurrency and has been aggravating the cryptocurrencies like bitcoin, ethers, and others as a part of his investments into the cryptocurrencies.
This increase in the price of the cryptocurrency has been taken as a positive symbol for all crypto enthusiasts who want to work on digital investment options in the near future.