Elon Musk''s Favorite Cryptocurrency Soars More Than 100% After Landing On Twitter.

 Since the Tesla tycoon took over the leadership of the Dogecoin social network, it has doubled sti value in a week

The very difficult time, known as the “crypto winter”, seems to have ended for a cryptocurrency in particular.Dogecoin, one of the most popular digital currencies, experienced a historic increase during the last week.Cryptography have separated completely from other digital currencies.

Dogecoin, the favorite cryptocurrency of the new owner of Twitter, the billionaireElon Musk, is accepted by your companyTeslain the purchase of any of its products, it has even promoted on their social networks, causing spikes in its price point that is unprecedented.

The bad period that passes through cryptocurrencies since several months ago, known as cryptoinvieron, is only a distant memory for a digital currency

Dogecoin, one of the most popular digital currencies, experienced a historic increase during the last week.Cryptography have separated completely from other digital currencies.In the last seven days,Dogecoin you've earned 102% according to the company, dataCoinGecko.On the 30th of October, the price of DOGE went up to 14.03 cents, the highest since April.The prices have dropped a bit and is currently trading at 12 cents.

The market value of Dogecoin went from $8 billion to almost $17 billion in a week.Dogecoin is currently the eighth digital currency in terms of market value. To better understand its recent boom, it should be noted that the price of <b>Bitcoin </b>increased by only 6% in seven days, while that of <b>Ether</b>, the second digital currency by market value after Bitcoin, won 19 percent.

The rise of Dogecoin coincides with the acquisition of the social network Twitter for 44,000 million dollars by Elon Musk, the richest man in the world. Musk ended the deal on October 27, and is currently occupied by initial changes that will leave their mark on the platform.You may interested in:ace sti logo and namesake.Former U. S. President Donald Trump speaks during a rally ahead of the midterm elections, in Mesa, Arizona, U. S., October 9, 2022. REUTERS/Brian Snyder<span>Donald Trump spoke about the sale of Twitter Elon Musk: “he is Now in good hands,”</span><span>The former president did not clarify if you have plans to return to the network, which was blocked after the assault on the part of their supporters to the Capitol on January 6, 2021</span>

Speculations related to Elon Musk

Dogecoin is currently the eighth digital currency in terms of market value.To better understand stis recent boom, it should be noted that the price ofBitcoinincreased by only 6% in seven days, while that ofEther, the second digital currency by market value after Bitcoin, won 19 percent.

The rise of Dogecoin coincides with the acquisition of the social network Twitter for 44,000 million dollars by Elon Musk, the's richest man in the world.Musk ended the deal on October 27, and is currently occupied by the initial changes that will leave their mark on the platform. 

Elon Musk confirmed that it will form a council of content moderation on Twitter “with different points of view”

The technology tycoon is one of the most ardent followers of Dogecoin.Three of its companies will accept DOGE as payment for their goods.These are Tesla,The Boring Company and SpaceX.

The Boring Company, known for its tunnels, now offers to allow consumers and tourists to pay for their travel in a Loop in Las Vegas with Dogecoin.Basically, the firm offers the option of paying with the coin meme when people travel in vehicles Tesla in the transit system in The Las Vegas company calledloop.Tesla has a fleet of vehicles in the Loop.These Tesla cars are driven by humans.

The rise and fall of the Dogecoin

On the 8th of May,Elon Muskappeared onSaturday night Live,one of the most popular tv programs in the USA.South african tycoon wasone of the main driversof this cryptocurrency, after tweeted about their faith on this issue for months.

But since that occurrence in a program of massive scope, the digital asset has not ceased to come down and came to accumulate to a loss of 75% from their highs, afterhaving been negotiated in the 70 cents on the dollarin early May of this year.In July I played just5 centsof a dollar.

The value ofDogecoin peaked just before the broadcast programwith the expectation that Musk, who had become known as a “guru” of the stock market by some of their predictions, it could increase the currency,sending it higher or “to the Moon” as I have referred to through the messages on his personal Twitter account.

What happened that night was thatMusk himself spoke of itduring the segment of the update of the weekend, when asked by the hosts Michael Che and Colin Jost, which led to thejoke that the Dogecoin was “a scam”, deceit or fraud.

Asked by a cast member on this cryptocurrency represented by a “meme” of a dog, the owner said that it is a “financial vehicle that is going to take over the world”, to which I replied:“Then, what is a scam?and he said, laughing: “Yes, it is a "scam”.

Inless than three months, the value of Dogecoin fellwithout mercy, because investors thought that what happened in the program probably was not good for investment.

Originallycreated in 2013 as a joke, Dogecoin suddenly became a real money value in the exchange of encryption whenMusk began to support it in social networks.

“The founder of Tesla and SpaceX had won the hearts of many investors viral during the GameStop saga, and although many thought that he was promoted to Doge ironically,the care that we provided resulted in gains”, stated a report fromYahoo!finance.

Buy a coin as a joke is, after all, to buy a currency.The peak of Dogecoin, until now, it was just before the onset ofSaturday night Live, that is to say before the people realized that Musk was making a Dogecoin-as-a-random play, or that the people were to decide that the joke could continue his course.

The Dogecoin reached a record market value of USD 80,000 million on May 7, today reaches about USD 17,000 million

In mid-July,Musk is still tweeting about Doge, but not as much as I used to, perhaps because investors in cryptography are much more incredulous about what you think the billionaire, who had declared that Dogecoin is the“cryptocurrency of the people”.

Some investors, however, are still believers, despite the fact that the founder of Dogecoin has repudiated the currency.According toCNBC, an investor who became a millionaire when Dogecoin was shot've lost sti status as a millionaire, but are still buying the dips, consolidating sti position.