Tesla and SpaceX CEO Elon Musk made an offer to buy Twitter today for $54.20 per share. After these news, Dogecoin experienced a rise.
According to an emerging US Securities and Exchange Commission (SEC) document, Elon Musk has made a $43 billion bid to acquire all of Twitter.
Musk sent a document Thursday to Twitter’s chairman, Bret Taylor, saying that if the offer is not accepted, he should “consider his position as a shareholder.” The document also states that the price in question is 54% compared to the day before investing in Twitter; It was stated that there was a 38% premium compared to the day before the investment was announced to the public.
Twitter shares rose over 13% upon the announcement. The stock was up $12.82 (38.81%) from last month.
How Has Dogecoin (DOGE) Been Impacted?
Dogecoin (DOGE), after the news that Musk made an offer to buy Twitter, increased its market cap from $18.44 billion to $19.36 billion in ten minutes, increasing by nearly $1 billion. DOGE’s price jumped from $0.139 to $0.1459 at the same time, and DOGE volume increased to $140 million.
According to CoinMarketCap data, at the time of writing, Dogecoin is trading at 5.05% $0.1452.
Dogecoin has consistently lost value after hitting an all-time high in May 2021. After the news, investors began to question whether Dogecoin was a good investment.
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