Dogecoin Spikes 10% After News Of Musk's $3B Stake in Twitter

[Coinshots]

Dogecoin’s DOGE tokens spiked 10% on Monday as Tesla (TSLA) CEO Elon Musk was revealed to hold a 9.2% stake in social media company Twitter(TWTR), worth around $2.88 billion.

Data shows that DOGE jumped from $0.143 to over $The bump had a correlated effect on some other meme coins. Shiba Inu’s SHIB jumped 5% alongside the move in DOGE.

Musk holds more than 73.5 million Twitter shares, valued at over $2.89 billion at current prices as reported.

Musk is one of the most famous backers of cryptocurrencies. His electric car company Tesla reportedly held over $2 billion worth of bitcoin at the end of 2021. Tesla additionally started accepting bitcoin for its cars in 2021 but later ended the project, citing climatic concerns.

Tesla also accepts DOGE payments on its online merchandise store. The news had previously sent prices of DOGE flying 11% in January.

Musk has previously lent support to dogecoin development and adoption. Last May, he tweeted that he was working with dogecoin developers to improve system efficiency. That sent dogecoin prices up by 22%.

Then in June, he tweeted it was “important to support” a proposal that sought to reduce dogecoin fees – one that would make dogecoin more competitive compared to other cryptocurrencies.several minutes after the reports of Musk’s stake came out at 10:30 UTC. At the time of writing, prices fell slightly to $0.154.

Source:https://www.coinshots.com/news/dogecoin-spikes-10-after-news-of-musks-3b-stake-in-twitter

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[coco23]

How realistic is it that Twitter really adopts Doge or SHIB for micro payments on Twitter? Wouldn't it be a better business decision if they firstly do their own "Twitter-Coin" and later also include popular tokens?
Also wouldn't be the Doge transaction fee to high for actual micropayments? There are probably better means to send transaction of small amounts of money

[btc78]

but Dumped back again as crypto people already Knew that it is another style of Elon to Bump and manipulate the coin so people don't wanna wait long instead will take profit instantly .

https://coinmarketcap.com/currencies/dogecoin/

Look at it now, 5% remaining increase and still dumping lol.

If i were you all, never trust Elon for your funds because with so much happening ? you will only end up losing more than to gain.

[southerngentuk]

Ironically, seeing how its price is increasing, the dependence between Doge Coin and Elon Musk is growing. Recently, there has been no news that is more convincing than Elon's tweets. Anyway, there are still a lot of people hoping for it day by day, but in essence, the coin meme and the FOMO hype make it an attractive name in a portfolio.

[whiteblue]

Ironically, seeing how its price is increasing, the dependence between Doge Coin and Elon Musk is growing. Recently, there has been no news that is more convincing than Elon's tweets. Anyway, there are still a lot of people hoping for it day by day, but in essence, the coin meme and the FOMO hype make it an attractive name in a portfolio.

The hype and Fomo are only temporary and can't always happen as expected, so it's only natural that Elon Musk's tweets haven't changed much to Dogecoin or other memecoins.
The most important thing is to always take advantage of the early moment if you want to get profit through any memecoin before the hype period is over.

[el kaka22]

What is the connection though? I mean I get that Elon is a crypto enthusiast and I get that twitter is a place where most of the crypto talks happen and you can learn all the latest news there, so there is a connection like that. But, what is the doge connection? Why would Elon buying twitter shares would increase the price of doge? People are really investing their money into the most stupidest things ever and then cry about how they lost a lot of money.

I do not think that it means something, it shouldn't really mean something like this at all. Doge price should have been moving according to what the market is moving and that is it, nothing more.

[StarKay]

but Dumped back again as crypto people already Knew that it is another style of Elon to Bump and manipulate the coin so people don't wanna wait long instead will take profit instantly .

https://coinmarketcap.com/currencies/dogecoin/

Look at it now, 5% remaining increase and still dumping lol.

If i were you all, never trust Elon for your funds because with so much happening ? you will only end up losing more than to gain.

I don't think you are being fair to Elon Musk here, he is just a nice guy buying shares in a social media company that he felt needed a change of course but some crypto enthusiast, in this case Dogecoin lovers, decided to pump their coin to celebrate the news and maybe attract new investors in the process.

How is any of this Elon's fault, every crypto investor should learn to take responsibility and not look for scapegoats.

[cabron]

What is the connection though? I mean I get that Elon is a crypto enthusiast and I get that twitter is a place where most of the crypto talks happen and you can learn all the latest news there, so there is a connection like that. But, what is the doge connection? Why would Elon buying twitter shares would increase the price of doge? People are really investing their money into the most stupidest things ever and then cry about how they lost a lot of money.

I do not think that it means something, it shouldn't really mean something like this at all. Doge price should have been moving according to what the market is moving and that is it, nothing more.

They were saying that if elon sneezes, the cryptocommunity is also affected. So whatever he does, it affects the currencies he supported. 

The question the media is actually throwing about this Twitter investment he did and because he is now part of the board, he can restore the democracy in twitter which there might be no censorship and Trump could come back. This Elon move could be related to politics.

[Irazzzta]

Elon Musk has really stepped forward to carry out his ambition introducing crypto to the world, 9.2% twitter shares wich he bought is a big step. as we know, twitter is one of the most widely accessed social media for crypto information. This news certainly triggers an increase in the price of Doge which we know is very close to Elon. Let's wait for what breakthrough Elon will do after becoming one of the largest twitter shareholders. hopefully it will be a positive thing for the future of cryptocurrency

[tabas]

The bigger news is that he's now part of the board of directors after his stake from Twitter. Well, he's spreading his wealth and he's really into tech. I think there's this relation of freedom of speech on this one since there have been issues about it lately.
I think the pump that has been done on doge is pretty normal when there's a news about Elon.

[South Park]

but Dumped back again as crypto people already Knew that it is another style of Elon to Bump and manipulate the coin so people don't wanna wait long instead will take profit instantly .

https://coinmarketcap.com/currencies/dogecoin/

Look at it now, 5% remaining increase and still dumping lol.

If i were you all, never trust Elon for your funds because with so much happening ? you will only end up losing more than to gain.

We know that Elon Musk likes to manipulate the market and he is specially focused on dogecoin, however I do not think this was an attempt by Elon Musk to do this, after all what relationship Twitter and dogecoin have right now? None, also it seems Elon Musk just did this to diversify his portfolio, which means this was a pump caused by people simply reading too much into his actions, which is why the price went down as quickly as it went up as there is nothing that could sustain that growth, as there should not have been any relationship between Elon Musk buying Twitter stocks and dogecoin going up in price.

[milewilda]

but Dumped back again as crypto people already Knew that it is another style of Elon to Bump and manipulate the coin so people don't wanna wait long instead will take profit instantly .

https://coinmarketcap.com/currencies/dogecoin/

Look at it now, 5% remaining increase and still dumping lol.

If i were you all, never trust Elon for your funds because with so much happening ? you will only end up losing more than to gain.

We know that Elon Musk likes to manipulate the market and he is specially focused on dogecoin, however I do not think this was an attempt by Elon Musk to do this, after all what relationship Twitter and dogecoin have right now? None, also it seems Elon Musk just did this to diversify his portfolio, which means this was a pump caused by people simply reading too much into his actions, which is why the price went down as quickly as it went up as there is nothing that could sustain that growth, as there should not have been any relationship between Elon Musk buying Twitter stocks and dogecoin going up in price.

Simply, people doesnt really like to miss out these kind of opportunities considering that Elon had made out some significant influence on its marketprice back in the past then it would really be normal
for people to have that kind of reaction whenever he do tends to make out some actions in regarding with his investment specially on Dogecoin.Well, you cant really stop people on not to mind on that
way and its true that not all possible movements made does have that kind of manipulative intent.We dont know if its just a simple buy up to diversify investment which same as you said.

[Xal0lex]

Dogecoin’s DOGE tokens spiked 10% on Monday as Tesla (TSLA) CEO Elon Musk was revealed to hold a 9.2% stake in social media company Twitter(TWTR), worth around $2.88 billion.

The old scheme of DOGE pumping on news involving Ilon Musk continues to work. Apparently people have not learned their lesson well and it is not worth believing at all that Ilon Musk is doing something good for the Dogecoin community. Rather, he is using it for his own personal purposes to promote his products and make his own profit out of it all.

Musk has previously lent support to dogecoin development and adoption. Last May, he tweeted that he was working with dogecoin developers to improve system efficiency. That sent dogecoin prices up by 22%.

Yeah, and then he said on a TV show that DOGE should be exchanged for fiat money, because DOGE itself isn't serious and stuff like that. After that, the price slowly dropped from 40 cents to 10-13 cents. This is how Elon Musk speculates on this topic.

[asriloni]

So what's the correlation between elon was holding some twitter shares to the pump that happened with the doge coin? i see that no correlation in this case. In fact that the shares owned by elon in the twitter company didn't even give any impact to the doge coin or shiba inu. The pump was triggered by the bitcoin pump last weeks but this time it's dumped again and doge coin too.
I see that if this news was just another click bait news with no good information that can be got through reading the whole of article.
Why the doge coin community is always taking everything to be correlated with its coin. This is weird.

[naira]

Dogecoin’s DOGE tokens spiked 10% on Monday as Tesla (TSLA) CEO Elon Musk was revealed to hold a 9.2% stake in social media company Twitter(TWTR), worth around $2.88 billion.

Doge is coin or token? before saying anything about Doge you should also know the difference between Coins and Tokens themselves. Regardless of the upgrade, I think the holder is still expecting an increase of over 1000x when the bull happens and goes to the top of the queue thinking they want to hit $1 and must have asked Elon to pump.

[jossiel]

So what's the correlation between elon was holding some twitter shares to the pump that happened with the doge coin? i see that no correlation in this case. In fact that the shares owned by elon in the twitter company didn't even give any impact to the doge coin or shiba inu. The pump was triggered by the bitcoin pump last weeks but this time it's dumped again and doge coin too.
I see that if this news was just another click bait news with no good information that can be got through reading the whole of article.
Why the doge coin community is always taking everything to be correlated with its coin. This is weird.

Me too.

I don't see the connection on it and the pump wasn't that much and it begins to drop again. I guess the only connection that people can do is about this.

Doge - Elon

Twitter - Elon

Other than that, it's all about Elon and the things that he touches and talks about. A mere coincidence that the pump has happened done by big traders for Dogecoin.

[TravelMug]

It's obvious that entities behind are again riding on the popularity of Elon and even if it is not related to crypto, his so called called Dogecoin spikes and still continue to pump right now. But then again, we already know that this is just an artificial pump and when the time comes, we might see herds of selling again to take profits from this news.

[Oceat]

It's obvious that entities behind are again riding on the popularity of Elon and even if it is not related to crypto, his so called called Dogecoin spikes and still continue to pump right now. But then again, we already know that this is just an artificial pump and when the time comes, we might see herds of selling again to take profits from this news.

How long will these people keep believing on him about something like this? I guess they never learn that all of this is just about the profile and nothing else. Look how the market reacted after some pump then dump back again. These people never learn anything about market price manipulation they just continue to follow and reinvesting yet they don't know the risk that one day all of their investment gone for good.

[kotajikikox]

i thought this will continue to progress again as i leave half of my doge in wallet and did not converted in to fiat event here are already ATH last year.

https://coinmarketcap.com/currencies/dogecoin/

considering that it is still 12% growing for the last 7 days? yet this is not enough  for my desire because there is much i can get selling last year compared to the price now.

[mdzahed134]

but Dumped back again as crypto people already Knew that it is another style of Elon to Bump and manipulate the coin so people don't wanna wait long instead will take profit instantly .

https://coinmarketcap.com/currencies/dogecoin/

Look at it now, 5% remaining increase and still dumping lol.

If i were you all, never trust Elon for your funds because with so much happening ? you will only end up losing more than to gain.

I don't think you are being fair to Elon Musk here, he is just a nice guy buying shares in a social media company that he felt needed a change of course but some crypto enthusiast, in this case Dogecoin lovers, decided to pump their coin to celebrate the news and maybe attract new investors in the process.

First time i heard Elon Musk bought 9% stakes/shares in Twitter then heard now he is a board director but It's ridiculous, how they celebrate where there are no connection with Twitter and Dogecoin. And i'm surprised after i have seen doge coin price in CMC gradually it’s increasing but i think price will be down at any time so new investors can buy at own risk.