Dogecoin up 21% ahead of Elon Musk's closing deal Twitter

With the news that Elon Musk is close to completing his Twitter acquisition, his favorite memtoken, which Musk has always promoted to the masses, has risen above the $0.079 mark.

Over the past 24 hours, the token has added more than 21% to its value. In addition, the indicator of the volume of transactions made in the network also correlates with quotes.

At the moment, traders put into circulation $1,890,000,000,000+. In addition, the movement of funds between institutional investors was also recorded.

They have completed over 462 transactions, each of which will exceed $100,000.

Representatives of the analytical portal Santiment note that markets tend to polarize during the separation of memtokens from other digital coins.

Tomorrow Elon Musk will have to close the $44,000,000,000 acquisition of Twitter. Despite the fact that the deal will take place on October 28, Elon Musk has already put the status "Chief Twit" on Twitter.

After the resumption of the transaction, DOGE has risen in price by 8.5%. Until that moment, he was hampered by litigation. Dogecoin itself has active backing from an American multi-billionaire.

The latter claims that the memtoken is great for making payments due to its intangible commission and very high transaction speed.

In April, he proposed integrating Dogecoin into Twitter as a payment system and introducing a Twitter Blue subscription. Analysts suggest that after the change of leadership in Twitter, the social network will lose a large number of users. The latter are afraid of such integration and are skeptical about Elon Musk's idea.

In May 2022, SpaceX began accepting Dogecoin as payment for their merchandise, and The Boring Company, which is also owned by Musk, has also built DOGE as payment into the Loop service.

The multi-billionaire always notes that he will support Dogecoin wherever possible.