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DogeCoin Spikes as Elon Musk Buys 9.2% Stake in Twitter
Summary: DogeCoin surged early Monday as the world’s richest man, Elon Musk, bought a 9.2 percent stake in Twitter, making him the largest shareholder, according to a Bloomberg report. Given that one of Musk’s favorite tokens is DogeCoin, it only made sense for the meme coin to rise to $.154: a high we haven’t seen in ...
DogeCoin surged early Monday as the world’s richest man, Elon Musk, bought a 9.2 percent stake in Twitter, making him the largest shareholder, according to a Bloomberg report.
Given that one of Musk’s favorite tokens is DogeCoin, it only made sense for the meme coin to rise to $.154: a high we haven’t seen in more than a month and a half. Unfortunately for investors after the quick spike, DogeCoin has since dropped to $.144 at the time of writing, which is down 0.55 percent on the day.
Not only did DogeCoin spike briefly after the announcement, but Twitter Inc. (TWTR) is up 11 points on the day for an almost 30 percent rise in price.
In typical Musk fashion, his first tweet after the announcement was “Oh hi lol.”
On March 25, the Tesla CEO polled his 80.2 million asking if the Jack Dorsey-founded social platform promoted free speech. “Free speech is essential to a functioning democracy. Do you believe that Twitter rigorously adheres to this principle?” he wrote. “The consequences of this poll will be important. Please vote carefully.” Over 70% of respondents voted no.”
Musk has been an advocate for Twitter’s potential, but has not shied away from his disagreements with the platform. Shen they released their NFT profile picture feature, Musk claimed that it was a misallocation of their money and resources. Musk tweeted “This is annoying,” with a picture of the new feature.
Author: Tyler Irvin
Tags: Dogecoin,Elon Musk,Twitter
Link: DogeCoin Spikes as Elon Musk Buys 9.2% Stake in Twitter [Copy]
