December 8, 2022
62% of Dogecoin Users Profit Amidst Hopes for Twitter Integration

62% of Dogecoin Users Profit Amidst Hopes for Twitter Integration

Twitter CEO and billionaire Elon Musk has acquired 62% of Dogecoin investors (dog) Amid speculation that Musk’s purchase of Twitter will be positive for memecoin.

DOGE’s price soared on October 26, when billionaire entrepreneur Elon Musk changed his Twitter bio to “Chief of Twit” — the same day he visited Twitter’s San Francisco headquarters before the deal was officially closed as the new owner. On October 28.

Over the past seven days, the price of DOGE is up 98.5% to $0.119 at the time of writing, from He woke up With CoinGecko.

This means that up to 62% of DOGE holders “earn money at the current rate” from He woke up With data from the IntoTheBlock blockchain intelligence platform – which has outperformed even Bitcoin traders (BTC) and Ethereum (ETH) by 54% and 57%, respectively.

The events also led DOGE to overtake smart contract platforms Cardano and Solana to become the world’s eighth largest cryptocurrency with a market capitalization of $16.3 billion, starting at He woke up With CoinGecko.

The association between Musk’s Twitter purchase and DOGE’s massive price increase should come as no surprise, as many Dogecoin investors have high hopes that Musk — nicknamed “The Dogefather” — will integrate Dogecoin with Twitter in some way.

Dogecoin fanatic and cool blogger Matt Wallace told his 678,400 followers on October 28 that he believes Twitter integrated with Dogecoin will show “what #Dogecoin can do.”

While the Doge Whisperer fan page “Doge Whisperer” speculated about the possibility of implementing a Dogecoin-based hint system for trending tweets:

Even Cardano CEO and founder Charles Hoskinson has his say – noting that there is now a “real potential” for Dogecoin to integrate with Twitter:

Hoskinson took a step forward, Show Migrate from Dogecoin to Cardano as a side chain with built-in smart contract functionality for free.

Related: How Crypto Twitter Could Change Under Musk

In January 2022, Tesla He started by accepting DOGE as a payment method for Merchandise purchases, with Musk also hinting at doing so Same thing in SpaceX in May. 2022

electric car company They have also started accepting Bitcoin-based payments for their cars In January 2021, although the CEO considered that Dogecoin is “best suited for transactions” In December 2021.

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