DOGECOIN has soared in value by 27 per cent after Twitter accepted Elon Musk’s buyout deal of $44 billion.
Dogecoin’s price increase and Musk’s takeover aren’t directly linked, however, investors are hoping Musk’s continued endorsement of the meme coin will see Dogecoin be included in Twitter’s long-term plans.
Kryptomon Chief Marketing Officer Tomer Nuni said: “The speculation is that advertisers could be able to pay DOGE for ads and for other uses on Twitter.
“We have seen the same happening when Tesla revealed the ability to pay for its goods with DOGE. So the speculation could be around Musk’s businesses and stakeholdings starting to accept crypto, as Tesla does.”
In April 2022, Musk teased DOGE payments on Twitter and proposed Dogecoin as a payment option for Twitter Blue, the social media site’s premium subscription feature.
Tesla already accepts DOGE payments on its online store.
Musk has also previously supported the development and adoption of Dogecoin and in May 2021, Musk’s tweets that he was working with the meme coins developers to improve system efficiency fuelled Dogecoin’s rally to its all-time high of $0.67.
