Larger cryptocurrency market meme, dogecoin (DOGE) jumped more than 8% this Tuesday (4), after the richest man in the world – Elon Musk – to have agreed to acquire Twitter for the original value of US$ 44 billion.
According to Decrypt, lawyers for the CEO gives Tesla and SpaceX sent a letter to the social network, proposing to buy the company for the original price of US$ 54.20 per share.
Shortly after the news, dogecoin jumped 8.1% to $0.0648, according to data from CoinGecko.
However, the leap did not last long. At the time of publishing this news, DOGE was up 5.8% on the last day – quoted at $0.0638, according to CoinMarketCap.
What are meme cryptocurrencies and
why they divide opinion in the crypto market
Dogecoin and Elon Musk
The biggest meme crypto by market cap and the richest man in the world have a long history together.
Several times in recent years, Elon Musk wrote tweets about dogecoin, which he claimed to be ironic at first. However, it later turned out that the Tesla CEO was working with developers of the meme cryptocurrency.
Jokes or not, tweets from Elon Musk were often responsible for the increase in the price of DOGE. The anticipation of the CEO’s participation in the television show Saturday Night Live, in May 2021, led to dogecoin to its all-time high of $0.72.
Just as the rise was intense, the cryptocurrency’s fall was in the same proportion, melting more than 90% in the following year, according to Decrypt.
*With Decrypt information
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Source: Moneytimes
I am a journalist with over 6 years of experience working in the news industry. I currently work as an author for Global Happenings, and my coverage focuses on Technology news. I have written for various publications, including Reuters, The New York Times and The Guardian.
