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Long-term Dogecoin enthusiast, Tesla & SpaceX CEO Elon Musk locked his Twitter deal a few days back which turned into a blessing for Dogecoin holders with the price of the coin spiking since Musk’s acquisition.
In August, “Chief Twit” Elon Musk revealed he is “Mainly” supporting Dogecoin noting that the actual total transactional throughput capability of Doge is much higher than bitcoin.
With the monumental Twitter acquisition, the community believes Elon will introduce ways to introduce Dogecoin into the social media platform.
Multiple theories are being shared on how Elon Musk will incorporate his favorite meme token into Twitter with some of them saying that a Dogecoin-based tip system would be created for hit tweets.
According to Coingecko, Dogecoin’s market cap surpassed Cardano, Solana, and Polygon becoming the eighth-largest cryptocurrency in the world at the time of writing, with a $16.3 billion market cap.
Currently, Dogecoin is trading at a price of $0.119, with an increase of 94% in the last seven days.
Two weeks back, Elon Musk’s ‘Boring Company’ started accepting Dogecoin along with fiat payments for its new perfume “Burnt hair.”
In January, Tesla began accepting Dogecoin for merchandise. In May, Musk’s spacecraft company, SpaceX, followed suit.
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