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62 percent of Dogecoin owners up: Hope for Twitter integration



 Tesla CEO and billionaire Elon Musk's takeover of Twitter has given 62 percent of Dogecoin (DOGE) investors a boost as the Twitter acquisition is believed to be positive for the meme token.


DOGE's stock rose on October 26 when billionaire entrepreneur Elon Musk added the title "Chief of Twit" to his Twitter bio. He visited Twitter's headquarters in San Francisco that same day, and then officially closed the deal on October 28, becoming the new owner.


In the past seven days, DOGE price is up 98.5 percent to $0.119, according to CoinGecko.


That means 62 percent of DOGE owners are “making money at the current price,” according to data from blockchain information platform IntoTheBlock. The coin has even outperformed gains in bitcoin (BTC) and ether  (ETH) , which are up 54 percent and 57 percent, respectively.


Also the market capitalization of DOGE now has the smart contract platforms Cardano

obsolete. With a market cap of $16.3 billion, it is now the eighth largest cryptocurrency in the world, according to CoinGecko.


The connection between Musk's Twitter acquisition and DOGE's massive share price rise is unsurprising given that many Dogecoin investors have high hopes that Musk, nicknamed "The Dogefather," will integrate Dogecoin into Twitter in some form.


Dogecoin supporter and crypto blogger Matt Wallace stated Oct. 28 that he believes a Dogecoin-integrated Twitter would show “what #Dogecoin is capable of.”


Dogecoin fan site Doge Whisperer has speculated that a Dogecoin-based tipping system could be introduced for popular tweets:


Even the CEO and founder of Cardano, Charles Hoskinson, has commented, stating that there is now a "real possibility" of integrating Dogecoin into Twitter:


Hoskinson even went a step further and offered to migrate Dogecoin to Cardano for free as a sidechain with embedded smart contract functionality.

In January 2022, Tesla accepted DOGE as payment for goods purchases. Musk indicated in May 2022 that he wants to do the same at SpaceX .


The electric car company briefly accepted bitcoin payments for its cars in January 2021 . However, the CEO stated in December 2021 that Dogecoin is “better suited for transactions”.

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