The acquisition of Twitter by Elon Musk has unleashed a novel in the business world. Every tweet, statement in the media or reaction on social networks has an impact on market values. And if you don’t believe it, then just take a look at Dogecoin.
Of all the cryptocurrencies out there, Dogecoin must be the closest to the meme term than digital currency with real value.
This crypto, which honors the Doge of memes, gained relevance after being in the mouth of Elon Musk during the leisure of the pandemic on social networks.
Since then, although it has not risen to the levels of, say, bitcoin, it has at least gained worldwide recognition.
Being a currency closely related to Elon Musk, this recent Twitter controversy has caused the value of Dogecoin to rise considerably in recent hours.
Why is Dogecoin rising and what does Elon Musk and Twitter have to do with it?
The specific reason for the rise in Dogecoin is that Elon Musk is raising the possibility of charging a monthly fee to Twitter users who have a verified account. So, it occurred to someone to launch the rumor that this payment was going to be made with this cryptocurrency.
A Dogecoin costs approximately 0.14 cents per coin. And at one point during the night of this October 31, according to a review slashgear, it reached over 0.74. It is considerably an unexpected and superlative increase for what this coin represents.
In the following hours, the value returned to its normal levels and was positioned, until the writing of this note, at 0.15 cents for each Dogecoin.