Dogecoin suddenly increased by 5% within an hour following the exchange of tweets between Elon Musk and Billy Markus.
Elon Musk, the CEO of Tesla, and Billy Markus, better known as Shibetoshi Nakamoto, the co-founder of Dogecoin, exchanged humorous tweets in light of the current jubilant atmosphere around the Twitter acquisition.
The topic at hand is Twitter Blue. Within an hour of the Twitter exchange, Dogecoin unexpectedly surged 5%, recouping some of its losses. When bulls took a break on Oct. 29, Dogecoin reached highs of $0.151 before falling under selling pressure.
Although Dogecoin dropped as high as 15%, it was only down 2.84% at the time of publication, or 0.1227. The social media behemoth’s first subscription service, Twitter Blue, was launched in June of last year and is aimed at users who are willing to pay extra for access to special features like the “Undo Tweet” tool, customized Twitter app icons, and the ability to add bookmarks.
By using the undo function, subscribers can alter their tweet before it is published. Musk suggested certain modifications to Twitter Blue in April, including a reduction in the cost of the subscription, the ability to pay with Dogecoin, and the elimination of advertisements.
Elon Musk’s purchase of Twitter
Elon Musk said that he purchased Twitter on October 27. As a result of investors’ excitement, DOGE prices shot up. The CEO of Tesla had to go a fair distance to acquire Twitter.
The wealthy CEO of Tesla and SpaceX revealed in April that he owned 9.2% of Twitter. In a statement at the time, he expressed optimism about working with the board to create “major enhancements to Twitter in the coming months” after Twitter added him to the Board of Directors.
Musk eventually changed his mind after buying a 9% stake in Twitter and decided not to join the board. That same month, he made a bid to buy Twitter at $54.20 per share. Musk initially said he was canceling the arrangement in July, but he later prolonged it, which resulted in the purchase.
