Over the course of 12 years, almost 20,000 cryptocurrencies have been inducted within the crypto-verse. Although every creator/developer wants their cryptocurrency to be on top, things do not work out as hoped.
Then there are creators who do not even think of making money and launch their cryptocurrencies for fun. Surprisingly, their cryptocurrencies become a huge success and the top example is Dogecoin (DOGE).
Launched back in 2013, even the creator of DOGE had not imagined it would rank among the largest cryptocurrencies in 2021. A cryptocurrency that debuted in 2013 at $0.0002878 reached an all-time high of $0.6848 by the mid of 2021.
Elon’s Influence over DOGE and Twitter
The only factor that spread its influence all over DOGE from the start of 2021 was Elon Musk. For Musk, his strong following on Twitter granted him strong influence over Twitter. Being a lover of futuristic advancements and technology, most of his following has the same mindset.
Therefore, his tweets always worked like a spell and kept growing DOGE’s price higher. His movement in favor of DOGE started in early 2021. He even became part of the Reddit army supporting DOGE and pushing DOGE to such a high price.
DOGE Preferred over ETH
Although DOGE’s price has continued descending since May of 2021, still, many investors have high hopes connected with it. Investors want to invest heavily in DOGE and want to increase their gains. Despite having lost much of its support among mainstream institutions, individual/common investors are still ambitious about DOGE.
As per the recent polling, the majority of the Twitter followers aren’t even interested in ETH as they want to invest heavily in DOGE.
Twitter Acquisition by Elon Musk
In early April 2022, Elon Musk revealed he was in the process of acquiring Twitter. This was an extremely exciting announcement for the entire Twitter community as well as the followers of Elon Musk. Even the former CEO of Twitter, Jack Dorsey had revealed they wanted to enable monetization for their users in the form of cryptocurrencies.
It is hoped that once acquired, Elon Musk will follow the same goal and make Twitter a monetization platform. If that happens, then most of the users are hoping DOGE will be the lucky cryptocurrency.
In early April, when Elon Musk announced the acquisition of Twitter, DOGE’s price spiked from a low of $0.1335 to a high of $0.1729.
DOGE after Elon’s Acquisition of Twitter
As of now, there are some obstacles barring the deal between Elon Musk and Twitter from happening. If things work out in favor of Elon Musk, Twitter will become his property. With the acquisition of Twitter, DOGE is expected to gain tremendous growth. Its price may cross the $0.3000 and go on to hit $0.4000.