Dogecoin

Tesla started accepting dogecoin as payment for its merchandise early this year, and Elon Musk's newly launched perfume brand can also be bought with ...

The billionaire in a tweet on Saturday said that Twitter users could in future choose a version of the social media platform they like by providing ratings on their tweets. Dogecoin surged more than 70% on Saturday, extending this week’s gains after Elon Musk sealed a $44-billion deal to take over Twitter last week. The Tesla Inc CEO, a vocal proponent of cryptocurrencies, has heavily influenced prices of dogecoin and bitcoin.

Data shows Dogecoin has now become the 8th largest crypto by market cap, after displacing Cardano from the spot.

As for ADA’s recent trend, its price is currently around $0.404, up 15% in the last week. As a consequence, SHIB is still only 13th on the list. In this period, the original memecoin has taken a beating of around 13%. At the time of writing, the memecoin’s price is trading around $0.116, up 96% in the last week. Before this decline, DOGE’s price was up more than 110% during the preceding seven days. Source:

As Elon Musk ostensibly set Twitter free from its cage, popular meme coin Dogecoin broke out of the doghouse that is crypto winter.

[accepts the cryptocurrency](https://decrypt.co/104535/elon-musk-boring-company-dogecoin) as a form of payment for using its Las Vegas Loop. Exchanges between Dogecoin and Binance USD, the stablecoin native to the trading platform, also crossed $900 million, representing 5% of the exchanges total trading volume. The coin is still down 84% from an all-time high of 73 cents, set in May of 2021 on the day Musk hosted Saturday Night Live, the late-night television comedy show. The coin has also seen notable volume on major cryptocurrency exchanges over the past day. It now sits at 11 cents as of this writing, up 94% in the past week, according to The billionaire’s outsized impact on Dogecoin is nothing new, but the coin eclipsed prices this week not seen since May.

October has been a bullish month for Dogecoin as the “Dogefather,” Elon Musk, takes over Twitter. Despite trading in the red at press time, the meme coin ...

[believes](https://twitter.com/IOHK_Charles/status/1586044408923033606) there is “a serious potential” that DOGE would “somehow integrate” with Twitter. In addition, the weekly DOGE chart reveals that the price hit a five-month high of $0.14 on October 23. Monday’s rumours that Elon Musk would acquire Twitter’s social media platform boosted the value of the meme token. This surge comes as many anticipate that DOGE would gain value due to Musk’s purchase of the social media giant. There has also been a rise in demand for the asset. October has been a bullish month for Dogecoin as the “Dogefather,” Elon Musk, takes over Twitter.

Despite several attempts to get out of the massive bear channel, Dogecoin just kept slipping lower earlier this year. Ads. However, the joke cryptocurrency is ...

Yet, at its current level, Dogecoin might be an attractive buying opportunity for those who think that the Twitter-driven rally could trigger a new bull run. This is one of the most widely used technical patterns among traders. Dogecoin is still down a staggering 84.26% from its record high of $0.731578, which means that those who bought the cryptocurrency at its peak are still sitting on massive losses.

Like many other cryptocurrencies frozen by the crypto winter, Dogecoin wasn't doing particularly well before The Musk Effect took hold. As the Tesla (TSLA 1.52%) ...

As the Tesla ( [TSLA](/quote/nasdaq/tsla/) 1.52%) CEO neared success in his renewed [pursuit of Twitter](https://www.fool.com/investing/2022/10/28/why-dogecoin-popped-today/), however, investors rediscovered their love of the coin. The effect of the cryptocurrency's frequent cheerleader Elon Musk buying Twitter ( [TWTR](/quote/nyse/twtr/) 0.66%) was obviously fading fast. [DOGE](/quote/crypto/doge/) 4.22%) bark at the end of last week softened into a whimper on Sunday.

The crypto market saw exuberance this weekend. Can we trust it to hold? We'll know more soon. Meanwhile, Dogecoin pumped, because… Elon Musk.

those sorts of coins – football fan tokens, and in fact, anything vaguely football related (also, see Chiliz further above), might be something to keep an eye on as we head closer to the World Cup. Even calls-it-as-he-sees-it veteran trader Peter Brandt (known for noting past tops on markets) is getting in on the Dogecoin positivity. And there’s been a good deal of speculation that Musk plans to somehow support the application of Dogecoin on Twitter. (Stats accurate at time of publishing, based on CoinGecko.com data.) DOGE is curled up and taking a breather right now, but you shoulda seen it go on the weekend, and maybe you did. Things have pulled back a tad since then, at the time of writing.

Many in the crypto community believe Elon Musk's takeover of Twitter to be a positive for the now-8th-largest cryptocurrency Dogecoin (DOGE).

2021, despite the CEO taking the view that [Dogecoin is “better suited for transactions”](https://cointelegraph.com/news/dogecoin-is-better-than-bitcoin-for-payments-elon-musk-declares) in Dec. [also began accepting Bitcoin-based payment for its cars](https://cointelegraph.com/news/tesla-expects-to-begin-accepting-bitcoin-for-payment) in Jan. 26 when billionaire entrepreneur Elon Musk changed his Twitter bio to “Chief of Twit” — the same day he visited Twitter’s San Francisco-based headquarters before officially closing the deal as the new owner on Oct. [according](https://www.coingecko.com/) to CoinGecko. [according](https://app.intotheblock.com/coin/DOGE?pid=coinmarketcap&utm_source=coinmarketcap_widget) to data from blockchain intelligence platform IntoTheBlock — which even beats out Bitcoin [(BTC)](https://www.coingecko.com/en/coins/bitcoin) and Ethereum [(ETH) ](https://www.coingecko.com/en/coins/ethereum)hodlers at 54% and 57% respectively. DOGE’s price rallied on Oct.

Veteran trader Peter Brandt says the dogecoin bear market that began in May last year has ended as Elon Musk acquired Twitter.

[Boring Company](https://news.bitcoin.com/elon-musks-boring-company-to-accept-dogecoin-payments-for-rides-on-las-vegas-transit-system-loop/) accepts DOGE payments for some rides. In the past, his support for the meme cryptocurrency often boosted the price of DOGE. [owns three cryptocurrencies](https://news.bitcoin.com/elon-musk-spacex-owns-bitcoin-personally-owns-btc-ethereum-dogecoin-pump-dont-dump/): bitcoin, ether, and dogecoin. Veteran trader Peter Brandt says the dogecoin bear market that began in May last year has ended. The price of dogecoin began soaring after Musk acquired Twitter. Many believe that the recent DOGE pump is “the Elon effect,” stemming from the Tesla CEO buying Twitter.