• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Dogecoin

Dogecoin (DOGE) Seen Jumping This Month, Despite Twitter-Musk Deal Collapse

Christian Encila by Christian Encila
7 months ago
in Cryptocurrency news, Dogecoin
Reading Time: 2 mins read
Advertisement

Dogecoin (DOGE) could not muster enough strength on Saturday as the collapse of Elon Musk’s Twitter acquisition crushed hopes for the mainstream acceptance of the coin.

After the disclosure, the price of the largest memecoin in the world decreased by more than 4 percent. In recent weeks, the token looks to be reacting less strongly to Musk’s social media comments, rants included.

Musk canceled his $44 billion plan to take over Twitter on Friday, alleging that the social media company is issuing “misleading” assertions about the amount of phony accounts, according to a regulatory filing.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

Earlier this year, the billionaire proposed purchasing Twitter for almost $43 billion. After Musk hinted at a possible incorporation of Dogecoin into Twitter, DOGE appreciated significantly upon the initial announcement of the transaction.

Dogecoin Needs Musk Tweet To Rise

The token’s popularity is partly down to the world’s richest man’s ongoing endorsement and promotion of it on social media, which contributed significantly to the cryptocurrency’s meteoric rise.

According to a recent analysis, searches for “Dogecoin” surged in 2019 and 2020 after Musk tweeted about it. DOGE had gained roughly 30 percent by the time Twitter’s board gave the green light to the Tesla CEO’s buyout proposal. However, it has since rapidly reversed those advances.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Suggested Reading | Solana Glints With 14% 3-Day Rally – Will SOL Keep On Beaming?

Twitter Stock Price Drops After The News

In the after-hours market, Twitter’s stock price decreased by 6% to $34.58. This is 35% less than the $54.20 per share price Musk agreed to pay for the social media giant in April. Following the closing bell on Friday, Twitter’s stock price dropped to its lowest level since March.

As soon as the news came, Bret Taylor, the chairman of Twitter’s board of directors, threatened to file a lawsuit versus Musk to enforce the terms of the buyout agreement.

Musk’s attorneys stated in a document that Twitter failed or refused to reply to several requests for information on fraudulent or spam accounts on the platform, which is crucial to the company’s financial performance.

DOGE total market cap at $9.24 billion on the weekend chart | Source: TradingView.com

Suggested Reading | Bitcoin Drills Into $22,000 Level – But Not All BTC Investors Are Jubilating

Dogecoin Still Seen Jumping This Month

Meanwhile, despite DOGE reeling from the outcome of the Twitter-Musk deal, some analysts are still very optimistic about its future.

For instance, this month, the price of DOGE could approach $0.12. Currently, the coin is selling at $0.0699, an increase of 5.5% over the past week, data from Coingecko show, Saturday.

Traders knowledgeable with the famous meme coin will agree that it is notable for sudden surges and FOMO-induced frenzy. According to technical analysis, the DOGE price will go up, although it is difficult to determine if a bottom has been reached.

Featured image from Mashable India, chart from TradingView.com
Tags: dogeDogecoinelon muskmemecointwitter
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Christian Encila

Christian Encila

Freelance writing is Christian's other cup of tea. When not on his computer, he unwinds with a bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

bitcoin price bull

Bitcoin Spiked to $23,960, But Traders Are Not Very Greedy

2 hours ago
Solana

What’s Next For Solana As Bulls Face Rejection At $25?

3 hours ago
Bitcoin Mining

This Level Could Be Crucial For Bitcoin, PoW Pricing Model Suggests

4 hours ago
cream finance

Cream Finance Exploiter Moving Funds Over 16 Months After Hack, Here’s Why

5 hours ago
Gala Games 2023

Gala Games Plans for Mobile Gaming, GALA To Be The Primary Token

7 hours ago
MEXC Research: What to Expect from the Shanghai Upgrade on Ethereum

MEXC Research: What to Expect from the Shanghai Upgrade on Ethereum

9 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

“Gold has been the best performing investment asset over the last two decades”: an interview with Easygold

January 30, 2023

The Crypto Dream Team: Binance Coin (BNB), Polygon (MATIC) and Orbeon Protocol (ORBN)

January 30, 2023

Polygon (MATIC) and Fantom (FTM) Are Losing Favor With Investors As They Turn To Snowfall Protocol (SNW) For 1000x Potential Gains!

January 30, 2023

Tezos (XTZ) shares its 12th protocol upgrade, Twitch Co-Founder’s Gaming NFT Marketplace Expands to Polygon (MATIC) Network while Snowfall Protocol (SNW) Breaks Record Highs

January 30, 2023

Snowfall Protocol Investors Happy After the Release of Snowfall DEX, Twitch Co-Founder’s Solana Gaming Platform Fractal Expands to Polygon, And Majority of Dogecoin Holders Are in Profits Despite the Meme Coin Being Down 87% From Its 2021 ATH

January 30, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.