![]() ![]() However, this move didn’t attract Elon’s attention. To make it a viable option, Shiba Inu has come up with its own NFTs. ![]() Although, according to market analysts, SHIB token is currently far away from reaching the heights of DOGE. At the time of its launch, the community grew due to the positive hype around it. Shiba Inu (SHIB), another dog-themed meme coin, was launched to compete with Dogecoin. Dogecoin may make the cut as one of the payment methods used to verify accounts on Twitter Shiba Inu Jumps 14% Now that the market is green again, Dogecoin has jumped more than 15%, and the community is over the clouds. The Dogecoin community kept on growing after that until the crypto crash of 2022. He repeatedly tweeted about Dogecoin which led to a positive swirl in the crypto market. All thanks to the crypto daddy, the technoking of Tesla, Elon Musk. But this time, will he prefer Big Eyes Coin (BIG)?ĭogecoin (DOGE) was launched to mock Bitcoin (BTC), but in 2021, Dogecoin’s market cap grew to $84B. Given Musk’s love for cryptocurrencies in the past, especially Dogecoin (DOGE), he might add coins as a way to maximise Twitter’s potential. The feature is currently under development, however, if Musk gives it a green light, it could open newer ways of payment outlets. According to reports, the company is planning to add a new feature that will ask the verified accounts to pay a monthly fee, kind of like a subscription to prove their identity. Now that Musk has finally grasped his hands on one of the most influential apps in business, finance, media and arts, he may think of expanding the service in the Web 3.0 economy. After the official payout of a whopping $44B, the billionaire CEO quirkily tweeted a video of him bringing a kitchen sink to the Twitter HQ. At press time, DOGE was trading at $0.1012 after a 26% increase in the past 24 hours.Elon Musk has finally made all the payments to acquire the social media company Twitter, lovingly called the ‘bird app’. The lawyers also expressed confidence in Musk bagging a win, considering the outspoken billionaire has won similar cases before. “ There is nothing unlawful about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency that continues to hold a market cap of nearly $10 billion,” they added. “The Complaint is a fanciful work of fiction that fails to state any actionable claim against Defendants Elon Musk and Tesla and must be dismissed in its entirety with prejudice,” Musk’s lawyers argued during a hearing on a motion to dismiss last Friday. Last week, Musk’s lawyers requested a Manhattan court to throw out a $258 billion racketeering lawsuit by some investors who accused him of running a pyramid scheme using Dogecoin, alongside accusations of wire fraud and gambling. Meanwhile, the timing of the decision to change Twitter’s logo to that of a dog could not have been more suspicious, especially considering the ongoing high-stakes lawsuit against Elon Musk, who stands accused of promoting dogecoin in a manner resembling a pyramid scheme. On-chain analytics platform Lookonchain also highlighted the fifth largest DOGE holder, who transferred 650M DOGE ($61.3M) out after the price of DOGE increased. ![]() In fact, following the changes yesterday, Musk tweeted a screenshot of the conversation, writing, “as promised”.įollowing the recent occurrence, there has been an observed surge in the on-chain activity of Dogecoin, with millions of dollars worth of DOGE being transferred between wallets in multiple transactions in the past 24 hours. Monday’s action by the self-proclaimed doge-father came as a surprise to many, but it was in fact foreshadowed by his earlier promise to replace Twitter’s logo with a Doge-inspired image, which he made to the chairman of WallStreetBets on Twitter last March before acquiring the platform. Additionally, the unforeseen price spike caught some short traders flatfooted, with over $27 million being liquidated in the past 24 hours, according to data from Coinglass. Likewise, Dogecoin’s market cap increased by 27% over the same period to tap $14B, surpassing MATIC and Cardano (ADA) to sit in seventh position. Other metrics also witnessed a substantial uplift, with the coin’s daily volume surging over 613% in the past 24 hours to tap $5B, as seen on CoinMarketCap. Dogecoin (DOGE), the largest meme cryptocurrency by market capitalization, soared over 25% Monday after Elon Musk replaced Twitter’s blue bird logo with a dog-themed image, sparking fresh enthusiasm in the DOGE community.įollowing the changes, dogecoin’s price spiked to an eighteen-week high of $0.1045.
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