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Reports claim that Teslaâs CEO â Elon Musk â will most probably become Twitterâs new owner. The entrepreneur is a keen supporter of Dogecoin, and the rumors caused a 15% spike in DOGEâs price.
- The worldâs richest man â Elon Musk â and the social media platform â Twitter â have been interacting with each other numerous times in the past few months.
- Several weeks ago, Teslaâs CEO purchased over 70,000,000 of the companyâs shares (9.2% of the platformâs total stake). He was also expected to join Twitterâs Board of Directors.
- Shortly after, though, Musk reversed his decision. Parag Agrawal â Twitterâs CEO â did not give a reason for the U-turn but opined: âThis is for the best.â
- The saga did not stop there. A few days later, Musk made a $43 billion offer to buy the social media company. He said Twitter has âextraordinary potential,â which could be unlocked with his help.
- According to more recent reports, the two sides will indeed shake hands, and it could become official as early as today â April 25. Shortly after the news broke, Twitterâs stocks increased by 3% in pre-market trading.
- Additionally, Teslaâs CEO has a significant influence on the cryptocurrency market (and especially on his favorite token â Dogecoin) with his comments and endeavors. As such, it is no wonder that DOGE surged by over 15% since the news about the possible acquisition emerged.
- Like most other digital assets, the first-ever memecoin started the day deep in red, trading at around $0.124, while currently, it is hovering at almost $0.15.
- The entrepreneur often praises DOGEâs merits. At the end of 2021, he argued that the token is better suited for payments than bitcoin.
- Nearly a month later, his EV-giant â Tesla â accepted the memecoin as a payment method. Needless to say, Dogecoinâs USD valuation spiked by double digits almost instantly after the news.
DOGEUSD. Source: TradingView
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