Dogecoin Price Surges as Elon Musk Wants to Control Twitter

Tesla CEO Elon Musk is once again in the news after he proceeded to purchase the shares of the social media platform Twitter. A few days ago, Musk shared a poll on his Twitter account asking for people’s opinions on the matter. The post got an overwhelming response from netizens. According to the media reports, Musk is now the biggest shareholder of Twitter.

Following the news, Twitter shares increased by 30%. Meanwhile, the news was well-received among the Dogecoin traders who are now waiting and hoping for a price surge in the Dogecoin campaign. Thus far, Dogecoin prices have already spiked by 8.36% since Musk first speculated the idea on Twitter, according to the data analysis of CoinMarketCap.

Dogecoin Market Cap Spikes

When one crypto head asked Musk if he might work towards adding a Dogecoin tipping option to Twitter, he responded positively. Since the time the news first made it into mainstream media, Dogecoin’s per-unit price went from $0.1431 to $0.155. Meanwhile, the original meme coin is currently sitting at a market cap of $1.5 billion within a matter of an hour.

Musk has been known to go on record to share his positive reviews about the meme coin on several occasions. He also managed to allow the Dogecoin purchase option for Tesla products. With his latest Twitter purchases, many are expecting Dogecoin to acquire the central position in the upcoming days. Tim Pool, a journalist, recently claimed that if Twitter is owned by Dogecoin, advertisers may ask for a Dogecoin payment option.

Twitter has Already Added Support for Several Cryptocurrency Products

In the last few months, Twitter has added support for several tokens like Ethereum and Bitcoin. The social media platform added the option of Twitter users being able to get tips in the form of the aforementioned crypto tokens. Since the transition, the Dogecoin community on Twitter has been demanding to add the same support for the meme coin.

Among others, Dogecoin co-founder Billy Markus also joined the campaign and started a petition. Thus far, the petition to add a Dogecoin tipping jar on Twitter has reached 8,000 signatures. Recently, cryptocurrency trading veteran Ali Martinez started to show an interest in Dogecoin before Musk talked about acquiring Twitter.