In the last seven days, the cost of Doge has increased by 131.23%. With a 24-hour trading activity of $15,024,853,397 USD, the Dogecoin price was $0.1344, up 50.34% in the previous day as of the time of publication.
Doge is presently positioned #8 with a live market valuation of $17,968,371,819 USD, ahead of Cardano, who is now in ninth place, and Solana, who is presently in tenth place, both with $14.4 billion and $11.9 billion.
The meme currency increased on Monday after speculations that Tesla Motors CEO Elon Musk was planning to purchase Twitter's social media network surfaced. Doge's bullishness persisted over the course of the week, supported by two essential elements.
With the currency selling at $0.072, the price of Dogecoin increased by 14.52% on Wednesday, bringing the 24-hour increase to 21.22%. This week, DOGE has risen as a result of the cryptocurrency market cap growing and surpassing $1 trillion.
Aside from that, Elon Musk's efforts to finalize the Twitter takeover agreement greatly aided Doge's rise. On Wednesday, the billionaire showed up at the Twitter headquarters, and on Friday, October 28, the sale was finalized, ending the six-month saga. The problem was discovered by Blockchain.News.
Due to the possible influence of its integration with the Twitter network, Dogecoin is currently performing fairly satisfactorily on the market. In the past, Musk had advocated utilizing DOGE to charge users for their tweets while limiting spam and automated accounts on Twitter.
The entrepreneur Elon Musk has always been a staunch defender of Dogecoin. Tesla started taking Dogecoin as payment for its goods in January, including the “Giga Texas” belt buckle and miniature electric vehicles.
Given that Elon Musk is now in charge of Twitter, social media is almost certainly going to take a similar step, which will cause Dogecoins' prices to skyrocket as a result of its widespread acceptance.
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