Tesla Chief executive officer and millionaire Elon Musk’s purchase of Twitter has tipped 62% of Dogecoin (DOGE) investors into profit, among speculation that Musk’s Twitter-buy is going to be positive for that meme token.
DOGE’s cost rallied on March. 26 when millionaire entrepreneur Elon Musk altered his Twitter bio to “Chief of Twit” — within 24 hours he visited Twitter’s Bay Area-based headquarters before formally closing the offer because the new owner on March. 28.
Previously 7 days, DOGE’s cost has surged 98.5% to $.119 during the time of writing, according to CoinGecko.
Which means that around 62% of DOGE holders are “Making Money at Current Price” according to data from blockchain intelligence platform IntoTheBlock — which even is better than Bitcoin (BTC) and Ethereum (ETH) hodlers at 54% and 57% correspondingly.
The occasions also have triggered DOGE’s market cap to exceed smart contract platforms Cardano and Solana into becoming the eighth largest cryptocurrency on the planet having a $16.3 billion market cap, according to CoinGecko.
The hyperlink between Musk’s Twitter purchase and DOGE’s massive cost surge shojuld not be a surprise as numerous Dogecoin investors have high wants Musk — nicknamed “The Dogefather” — to integrate Dogecoin onto Twitter in certain shape or form.
Dogecoin fanatic and crypto blogger Matt Wallace told his 678,400 supporters on March. 28 he believes a Dogecoin-integrated Twitter would showcase “what #Dogecoin is capable of doing.”:
Because of Elon Musk, Twitter will quickly showcase to the whole world what #Dogecoin is capable of doing!
— Matt Wallace (@MattWallace888) October 28, 2022
While Dogecoin page “Doge Whisperer” speculated that the Dogecoin-based tip system might be implemented for popular tweets:
Can’t watch for Twitter to include #dogecoin being an choice for tipping
What is your opinion @elonmusk ? pic.twitter.com/b7Eqz9hpEs
— Doge Whisperer (@TDogewhisperer) October 30, 2022
Even Cardano Chief executive officer and founder Charles Hoskinson has considered in — stating there’s now a “real possibility” of Dogecoin integrating onto Twitter:
Since Twitter is at the disposal of @elonmusk I can tell possible that doge will in some way merge using the platform.
— Charles Hoskinson (@IOHK_Charles) October 28, 2022
Hoskinson then went a step further by offering emigrate Dogecoin onto Cardano like a sidechain with embedded smart contract functionality free of charge.
Related: How Crypto Twitter could change under Musk’s leadership
In Jan. 2022, Tesla started accepting DOGE like a payment way of merchandise purchases, with Musk also meaning at doing exactly the same factor at SpaceX in May. 2022.
The electrical vehicle company also started accepting Bitcoin-based payment because of its cars in Jan. 2021, regardless of the Chief executive officer using the view that Dogecoin is “better suited to transactions” in 12 ,. 2021.
