Recent news about the purchase of the social network Twitter by Tesla CEO Elon Musk, who has repeatedly promoted Dogecoin, led to an increase in quotes of the meme coin.
Over the past week, the rate of “dog cryptocurrency” has grown by 30%. This is the best result among the thirty largest cryptocurrencies by capitalization. The increase was especially sharp after Elon Musk changed his Twitter location to “Twitter Headquarters” and tweeted “chief in tweets” in his bio.
In just a few days, the capitalization of Dogecoin increased by $2.5 billion. If a week earlier, the figure was less than $8 billion, then at the peak it reached $10.48 billion. Now the capitalization has slightly decreased and stands at $10 billion. The coin rate has rolled back from $0.0816 to $0.754.
Recall that the completion of the deal to buy Twitter by Elon Musk is scheduled for Friday, October 28. Previously, DOGE often showed hundreds of percent volatility over several days.
Source: Bits
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