Dogecoin price skyrockets after Elon Musk announces he bought Twitter

The price of one of the most popular cryptocurrencies, Dogecoin, has spiked following the news of Elon Musk buying Twitter.

@JakConnorTT
Published Tue, Apr 26 2022 5:51 AM CDT   |   Updated Wed, May 18 2022 5:45 AM CDT

The price of one of the most popular cryptocurrencies has skyrocketed by 30% since Tesla, and SpaceX CEO Elon Musk announced the purchase of Twitter.

Dogecoin price skyrockets after Elon Musk announces he bought Twitter 35 | TweakTown.com
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Twitter's board has accepted Elon Musk's offer to purchase Twitter, and according to a press release by Twitter, the company has entered into a "definitive agreement" to be acquired by Musk. As soon as the news of Twitter officially being acquired by Musk, the price of the Tesla CEO's favorite cryptocurrency, Dogecoin, began to increase steadily, and over the course of 24 hours, it rose by 30%.

Dogecoin has been a long favorite of Elon Musk's cryptocurrency coins, with it being one of the three cryptocurrency coins that Musk says he holds. The other two are Bitcoin and Ethereum. On March 14, 2022, Musk wrote on Twitter that he still owns his Bitcoin, Ethereum, and Dogecoin and that he won't be selling it anytime soon.

Read more: Twitter employees ask the CEO what Elon Musk's takeover means for them

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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