Dogecoin Mania Returns as Elon Musk’s Twitter Profile Features Cryptocurrency Logo
The price of Dogecoin, the meme-based cryptocurrency, surged after the logo appeared on Elon Musk’s rebranded Twitter account. Here are the key points:
– Dogecoin’s price rose 8.9% to $0.08, reaching its highest level since April.
– Trading volume exceeded $1.7 billion, indicating significant market activity.
– The rally was triggered by the appearance of the symbol “Д in Musk’s Twitter profile, located behind the new company logo.
– Musk, who owns Twitter, retweeted a user known as “DogeDesigner.”
– Musk’s tweets have a history of impacting Dogecoin’s price, as seen earlier this year when Twitter temporarily changed its logo to a Dogecoin meme.
Doge’s Steady Rise
Dogecoin’s market capitalization currently stands at $11.4 billion, making it the third-best performing token over the past week according to CoinMarketCap. This recent surge in price and trading volume demonstrates the enduring influence of Elon Musk’s involvement with Dogecoin.
Hot Take
Elon Musk’s influence on the price and popularity of Dogecoin continues to be significant. This recent episode further solidifies the symbiotic relationship between Musk and the cryptocurrency, emphasizing the power of social media in the crypto world.
Theon Barrett shines as a distinguished crypto analyst, accomplished researcher, and skilled editor, making significant strides in the field of cryptocurrency. With an astute analytical approach, Theon brings clarity to intricate crypto landscapes, offering insights that resonate with a broad audience. His research prowess goes hand in hand with his editorial finesse, allowing him to distill complex information into accessible formats.