Elon Musk bought Twitter, Dogecoin bounces back

While Dogecoin was in decline, since Wednesday the cryptocurrency has increased lending by 18% in 24 hours according to Coinmarketcap. This return of Dogecoin is more or less linked to the takeover of Twitter by Elon Musk.

Elon Musk was to buy Twitter several months ago, after dragging out this takeover, the deal could be concluded this Friday. Binance, the most used exchange in the world, had also indicated that they were ready to continue their contribution of 500 million dollars for the takeover by Musk. The CEO of Tesla has also posted on Twitter a video where we see him visiting the premises of Twitter in San Francisco.

Musk’s new statements had influenced the market price before. The entrepreneur’s tweets had already allowed Dogecoin to gain momentum. Again, the announcement of the purchase of Twitter by Elon Musk increased the price of cryptocurrency. Dogecoin returns to the top 10 cryptos on Marketcap and reaches a total valuation of over $10 billion.

Elon Musk had floated the idea that Twitter could soon accept cryptocurrencies as a method of payment on the social network. A well-known developer in the field, Jane Manchun Wong, claimed that Twitter would be working on a prototype wallet that would support depositing as well as withdrawing crypto.

There are rumors that Dogecoin may become a payment option on Twitter. Nonetheless, Musk hasn’t spoken about it nor hasn’t speculated at this time.