DOGE up 18% as Elon Musk moves to take over Twitter DOGE up 18% as Elon Musk moves to take over Twitter
Dogecoin has spiked over 18% to reach a local high of $0.0777, as possibilities of its integration with Twitter increase.
1 min read
Updated: Oct. 27, 2022 at 11:52 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Dogecoin has surged 18% following news that Dogefather Elon Musk is set to take over Twitter by Friday.
Bloomberg reported on Oct. 24, that Musk has assured loan bankers assisting his acquisition with about $13 billion, that the Twitter deal will be completed by the weekend.
On Oct. 26, Musk changed his Twitter bio to “Chief Twit” followed by a visit to Twitter headquarters.
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
While discussing with Twitter employees, Musk refuted claims that he intends to cut jobs by 75%. He added that the employees were cool people he looks forward to working with.
If the $44 billion Twitter takeover pulls off as expected, Elon Musk’s favorite cryptocurrency Dogecoin may have a place in Twitter’s payment method.
Bringing Doge to Twitter
Prior to pulling off his first Twitter deal, Elon Musk had ongoing discussions to integrate crypto payment into the social media app for seamless transfer of money between users.
As the Dogefather, Musk hinted at plans to enable users to pay for premium services like Twitter Blue using Dogecoin.
Dogecoin has spiked over 18% to reach a local high of $0.0777, as possibilities of its integration with Twitter increase. Similar, the meme coin is up over 30% in the last 30 days.
According to CryptoSlate data, Dogecoin’s market capitalization has increased from about $7.95 billion to over $10.30 billion over the last 48 hours, recording an inflow of approximately $2.35 billion as of press time.
Dogecoin Market Data
At the time of press 11:52 am UTC on Oct. 27, 2022, Dogecoin is ranked #10 by market cap and the price is up 9.81% over the past 24 hours. Dogecoin has a market capitalization of $9.97 billion with a 24-hour trading volume of $2.13 billion. Learn more about Dogecoin ›
Crypto Market Summary
At the time of press 11:52 am UTC on Oct. 27, 2022, the total crypto market is valued at at $995.25 billion with a 24-hour volume of $96.19 billion. Bitcoin dominance is currently at 39.59%. Learn more about the crypto market ›
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Author 
Christian Nwobodo
Christian is a crypto-curious nerd who loves to investigate how protocols work under the hood. Christian is interested in DeFi protocol research, token economics, and on-chain analytics.
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Dogecoin is a cryptocurrency created in December 2013 as a joke by software engineers Billy Markus and Jackson Palmer.
South African-born Elon Musk has founded several companies, including X.com (which later became PayPal), SpaceX and Tesla Motors.