What is the role’s relevance between Dogecoin and Twitter?

  On 27th October, 2022, there was an announcement that Elon Musk, the world’s number one billionaire, had taken over Twitter which cost 44 billion US dollars or about 1.6 trillion baht. This takeover has raised 13% of  Dogecoin or DOGE from the value of 2.6 baht.

What is Dogecoin?

“Dogecoin” is the digital currency which is used to invest in digital estate or Cryptocurrency. It was created to mimic Bitcoin, be used as  Digital money circulates in cryptocurrencies, and be easier to use than Bitcoin. Dogecoin has Shiba Inu Dog as a logo. It is the digital currency which is widely talked about on Twitter. Elon musk, most of the time, would be the one who raises the attention of Dogecoin on Twitter.

What is Twiitter?

“Twitter” is the online platform where people can post and  communicate with others in real time. The users’ post is called “tweet.” Twitter limits the number of messages, picture and video time. Thus, users need to tweet with short, tight and concise content. Moreover, Twitter has become an information source where people can follow up the news and give their opinion about the news they read. As mentioned above, Elon Musk is now the owner of Twitter after the takeover on 27th October, 2022.

After becoming the new owner of Twitter, Elon Musk had fired 4 chief executives immediately which were Parag Agrawal, CEO of Twitter, Ned Segal, CFO of Twitter, Vijaya Gadde, a law and policy executive, and Sean Edgett, General counsel.

What is the relevance between Dogecoin and twitter?

As mentioned, Elon Musk is the first person who raised the attention in Dogecoin and every move of his has an effect in every field, including Cryptocurrency. For example, Elon Musk once tweeted that Tesla’s customers can use Dogecoin to buy a souvenir. Immediately after he tweeted, the value of DOGE rose up 33%. As soon as the rumors about Elon Musk would take over Twitter flew, the value of Twitter rose up 5% as well as the value of Dogecoin that rose up 33%. What is important right now is Elon Musk’s next move after becoming the owner of Twitter. What is his plan? or he just raised the attention of Dogecoin as he always does? If there is any news, ACU will find out and update it to you guys!