Cryptocurrency traders are watching Dogecoin’s 10% rally despite the market falling. Rumors that Twitter will use Dogecoin are creating strong hype around the meme coin. Individual investors aren’t the only ones participating in this frenzy, according to WhaleStats data…
BSC whales looting DOGE in the midst of Twitter news
According to WhaleStats on-chain data platform, the largest meme coin by market cap DOGE, BSC (BNB) Chain) joined the top 10 list of the most popular whales. As Cryptokoin.com reported, as Twitter shareholders were prepared to accept Tesla CEO Elon Musk’s offer of $54.20 per share as the selling price, the Dogecoin price started to rally independently from the market with the related news.
Meme coin price rallying as Elon Musk buys Twitter
Twitter says it will accept Elon Musk’s offer to buy and privatize the company stated. Earlier last month, Tesla CEO and most prominent Dogecoin backer Musk offered to buy 100% of Twitter shares for $54.20 per share, or roughly $43 billion in cash. Musk owned 9.2% of Twitter shares at the time of the offer, while other key Twitter shareholders rejected the offer and continued to grow their holdings.
However, Elon said last week that he was raising funds to buy Twitter. The company’s board of directors met urgently on Sunday to consider the offer of the world’s richest man. The announcement that Elon will be checking Twitter in a week caused the Dogecoin price to spike, losing a big green hourly candle and rallying 13.96%. Now, while the market is falling, Dogecoin is leading the way up.
Will Twitter adopt Dogecoin?
On April 24, Dogecoin co-founder Billy Markus, or “Shibetoshi Nakamoto” on Twitter, expressed his perspective on what could add value to DOGE. He discussed how Web3 technology could integrate with Dogecoin. Many people expect Twitter to start accepting DOGE for payments and tips now that it’s practically taken over by Elon. After the introduction of Bitcoin and Ethereum tipping tools, Markus suggested using tokens to tip creators. Since joining Twitter’s board this year, Elon has suggested using DOGE to pay for a Twitter Blue VIP membership.
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