- Elon Musk Twitter deal is supposed to be finalized on Friday.
- Dogecoin (DOGE) price increased by more than 36% in the previous week.
While Tesla CEO Elon Musk’s Twitter deal is near to finish line, the most prominent memecoin, which is act as his favorite cryptocurrency, DOGE price surged by more than 21% in the last 24 hours. The billionaire’s actions have repeatedly influenced the token’s price.
Dogecoin (DOGE) has grown to act as a stand-in for an opinion on Musk and has received significant support from him. The token’s value rose once more as a result of Musk’s most recent action. At the time of writing, DOGE traded at $0.08011 and soared up to over 36% in the last 7 days.
Elon Musk Influence on Dogecoin (DOGE)
Dogecoin started to trend after rallying in response to the $44 million Twitter acquisition, which involves the Tesla founder and is expected to finalize on Friday. As it Today Dogecoin recorded 3rd green candle in a week, with a price surge of 33% in 14 days and over 30% in the previous month, as per CoinMarketCap.
Further, DOGE’s market cap increased by 21% and had a market cap of approximately $10 billion. Also, the memecoin’s trading volume has risen by around 200%, currently, Dogecoin has a 24 hours trading volume of around $1 billion. However, still, the token decreased by 69% from its all-time high of $0.7376 recorded on May 8, 2021.
After more than a month, the global cryptocurrency market cap reached $1 trillion, an increase of over 3%. And the prominent cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) also witnessing price surges. Respectively BTC increased by 8% and ETH rose by over 20% in the previous week.
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