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Dogecoin jumps to 24% after Elon Musk Buys Twitter for $44 billion USD

Dogecoin Elon Musk Twitter

The Tesla owner has bought the microblogging giant Twitter after a month of purchasing 9.2% stakes of Twitter and becoming one of the board members of the Twitter team. Owning the stakes made him the single largest individual shareholder on Twitter. Now, Dogecoin (DOGE) jumps to a 24% high after the announcement broke out about Elon Musk Buying Twitter for $44 billion.

The leading global financial service provider Morgan Stanley helped Elon Musk to close the bid at roughly $54.20 per share.

As we all know that Musk is popular for defending and promoting Dogecoin throughout the internet and for his often provoking tweets on Twitter. However, he strongly hold opinions that Twitter policies do not allow fundamental rights of free speech and therefore he initiated buying some stakes in Twitter. He also held polls for the public to decide whether he should buy or not to which the majority response fell in his favor.

Source: Twitter

However, Musk aims to launch ‘new features’, to increase trust in the microblogging site. He also suggested bringing up open-source algorithms, authenticating all humans for blog posting, and defeating spambots.

Source: Twitter

Also read: Elon Musk bought 9% stakes in Twitter: Dogecoin value spiked

How Dogecoin is reacting?

The SpaceX CEO and Dogecoin enthusiast have fueled up the Dogecoin (DOGE) prices from yesterday. However, the trend is going upwards and it is expected to break the all-time lows. Also, the Dogecoin community and supporters are hopeful and enthusiastic about coming rational changes in Twitter might be in favor of Dogecoin.

At the time of writing, Dogecoin is trending at $0.1603 with a complete market evaluation of $21.2 billion. yesterday it was holding a price of $0.1200 whereas today it rallied to $0.1603 with an increase of 24% in the last 24 hours. According to CoinMarketCap reports, the meme-based cryptocurrency ranks 10th. Currently, Dogecoin is used as a tipping system on Reddit and Twitter platforms.

Source: coinmarketcap
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