Dogecoin (DOGE), the largest meme coin in the crypto market seems to be back in business, thanks to Elon Musk. The DOGE token must always remain thankful to Elon Musk for his contribution to pushing the meme coin to a higher trading level.
Musk Continues Supporting DOGE Indirectly
According to the latest data, the trading price of DOGE has recorded a significant push. The recent push is due to the latest reports that involve Elon Musk and Twitter.
The meme coin’s trading price seems to have pumped tremendously in the past few days. Elon Musk’s announcement of proceeding with the purchase of Twitter seems to have triggered a bullish trend.
The investors eager to push and see DOGE reach a high trading price of $1 per DOGE have come into action. They have started to push DOGE in the higher positive trend line.
Their aim is to form a strong rally and push the trading price of DOGE to a high of $1. With Elon Musk proceeding with the deal to buy Twitter, many things would come in favor of DOGE.
Price Movement of DOGE
The data suggests that the trading price of DOGE is currently exhibiting $0.064. In the past 24 hours, the price movement of DOGE has been in a bullish direction.
The price of DOGE has rallied by 6.10% in the past 24 hours while the past 7-day performance shows a 6.79% surge.
DOGE’s bullish movement seems to have moved up a notch in the past 24 hours, and it may continue traveling in the same direction.
Elon Musk’s Deal
It was in April when Elon Musk first shared his intentions of buying Twitter. Just after Elon Musk’s first tweet about Twitter’s acquisition, DOGE saw a significant rise in its trading price.
By the end of April, it was confirmed Elon Musk had approached Twitter with a $44 billion offer to acquire the social media giant.
Unfortunately, the deal did not come to fruition the way it was supposed to. Multiple hiccups came along the way due to multiple disagreements between Elon Musk and Twitter’s executive power.
Finally, it seems that Elon Musk has decided to proceed with the initial deal worth $44 billion. The Twitter board is yet to vote on the deal but many claims letting Musk acquire the company would be the best decision.
If all goes well, Twitter may be acquired by Elon Musk in a matter of two weeks.
Musk has Big Plans for Twitter
On a number of occasions, Musk has talked about how he wants to integrate DOGE into Twitter as a payment method. He also added that he intends to add DOGE as a rewarding token on the platform.
Musk has plans to turn Twitter into a social media platform that offers payment transfers with DOGE being the native currency.
If the deal finalizes, the DOGE community would witness a great surge in the meme coin’s value.
