$DOGE Up 31% in a Week Thanks to Speculation About Twitter 2.0’s Support for Payments

On 27 November 2022, Tesla and SpaceX CEO Elon Musk, who recently bought micro blogging platform Twitter, managed top bring much-needed excitement into the crypto market with a single about the next major version of Twitter.

Dogecoin was initially released on 6 December 2013, as a “fun and friendly internet currency.” It was created by Billy Markus and Jackson Palmer. It is “a decentralized, peer-to-peer digital currency” that has as its mascot “Doge”, a Shiba Inu (a Japanese breed of dog). Since then, its popularity has substantially increased, especially in the past couple of years, mostly thanks to support by billionaires Elon Musk (the CEO of Tesla and SpaceX) and Mark Cuban. In fact, in 2019, Musk said that $DOGE might be his favorite cryptocurrency.

As you probably already know, on 27 October 2022, Musk completed his purchase of Twitter:

On 1 November 2022, Musk sent out the clearest hint that he wants $DOGE to become the “official” cryptocurrency of Twitter:

Then, around 4:13 a.m. UTC on 27 November 2022, Musk sent out a tweet that showed his slide deck for a recent talk he gave at Twitter:

From the last slide in his presentation, it looks like Musk is saying that Twitter 2.0 will support payments, but sadly he is not revealing in what form this support will come.

This single tweet was sufficient to generate much $DOGE FOMO, as you can see from the tweets below:

According to data by TradingView, currently (as of 8:59 a.m. UTC on 29 November 2022) $DOGE is trading around $0.1029, up 7.2% in the past 24-hour period.

In the past one-week period, the $DOGE price has gone up 31%.

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