Dogecoin is a cryptocurrency that started as a joke, and its value soared by over 30% after Twitter changed its logo to the Dogecoin symbol. The value of dog coins has risen to $0
Dogecoin is a cryptocurrency that started as a joke, and its value soared by over 30% after Twitter changed its logo to the Dogecoin symbol. The value of dog coins has risen to $0.43 per coin, becoming one of the most important recent gains.
Twitter's choice of using the dog coin icon as its logo can be traced back to Elon Musk. Musk posted a photo of a Chaigou on Twitter - a breed that inspired the Doge meme - with the word "Doge" and linked to an article discussing the potential of Dogcoin as a currency.
Elon Musk posted a screenshot of his conversation with the WSB chairman on Twitter, which shocked the cryptocurrency community and discussed the possibility of developing competitors before the latter took over. WSB proposed that they "simply acquire Twitter" and replace the bird emblem with Bitcoin symbols. As promised, Musk tweeted after using the dog coin icon as its logo on Twitter.
Twitter users have expressed different opinions on the recent changes in the Doge logo. Although some people believe that this is a humorous and appropriate move in line with Elon Musk's style, others question the legitimacy of the platform, speculating whether it has been hacked or whether it is a delayed April Fool's Day prank.
Is DOGE payment the next big surprise?
Elon Musk now provides Twitter users with a "paid" blue check verification service, which means people can pay to have their accounts verified through blue check. This service charges individuals $8 per month and organizations $1000. Given that Musk is a loyal fan of cryptocurrencies, some people would like to know if Twitter will allow payment using dog currency. Although Twitter has not confirmed any news yet, due to Musk's high praise for Dogcoin in the past, they may consider it.
Dog coin priceanalysis
Dog coins quickly rose by 33% in less than three hours. At present, it is difficult to maintain the price of dog coins above a specific level of $0.0987. This means that some people who purchase at lower prices may now sell their tokens for profit.
It is normal for the price to drop slightly after a significant increase like the one experienced by Dog Coin. Therefore, we may see prices drop to $0.0925 or even $0.0825 before starting to rise again.
This has caused many people to trade dog coins, with a trading volume of $3.54 billion within 24 hours, the highest level in the past three months. LunarCrush predicts that based on similar spikes in the past, the price of DOGE may increase by an average of 18.4% next week.
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