{"id":13890,"date":"2022-04-15T19:13:15","date_gmt":"2022-04-15T19:13:15","guid":{"rendered":"http:\/\/egrowonline.com\/?p=13890"},"modified":"2022-04-15T19:13:15","modified_gmt":"2022-04-15T19:13:15","slug":"dogecoin-a-proxy-for-twitter-stock-doge-price-could-soar-if-elon-musk-buys-twitter-potentially-boosting-bitcoin-ethereum-and-other-cryptocurrencies","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=13890","title":{"rendered":"Dogecoin \u2018A Proxy For Twitter Stock\u2019\u2014Doge Price Could Soar If Elon Musk Buys Twitter, Potentially Boosting Bitcoin, Ethereum And Other Cryptocurrencies"},"content":{"rendered":"


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Dogecoin, the meme-based bitcoin rival that’s a favorite of Elon Musk, has surged this week as traders bet a Musk-owned Twitter <\/p>\n

TWTR<\/a>
\n would help doge. <\/p>\n

Subscribe<\/em><\/strong> <\/em>now to <\/em><\/strong>Forbes’ CryptoAsset & Blockchain Advisor <\/em>and successfully navigate the crypto price roller coaster <\/em><\/strong><\/a><\/p>\n

The dogecoin price has lost 80% since memecoin madness pushed its price to 75 cents last year but it’s rallied 30% over the last month, outperforming bitcoin, ethereum and other major cryptocurrencies. After buying just over 9% of Twitter earlier this month, Musk yesterday revealed he’s offered to buy the company for $54.20 a share, valuing the firm at $43 billion. <\/p>\n

Now, as the dogecoin price begins to trade in tandem with Twitter stock, Musk, Vlad Tenev, the chief executive of trading app Robinhood, and FTX chief executive Sam Bankman-Fried have all weighed in on how dogecoin could help support a decentralized Twitter.<\/p>\n

Want to stay ahead of the market and understand the latest crypto news? <\/strong>Sign up now for the free CryptoCodex<\/em><\/strong><\/a>\u2014A daily newsletter for crypto investors and the crypto-curious<\/strong><\/p>\n

MORE FROM FORBES<\/span>‘Crypto Carnage’-BitMEX Founder Issues Serious Crash Warning And A Bleak Bitcoin And Ethereum Price Prediction As BNB, XRP, Solana, Cardano, Luna And Avalanche Dive<\/span>By Billy Bambrough<\/span><\/small><\/span><\/span><\/a> <\/p>\n

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Tesla and SpaceX chief executive Elon Musk could soon add Twitter to his long list of commitments. … [+]<\/span> Musk has long supported the meme-based bitcoin rival dogecoin, suggesting last year it could team up with ethereum to beat bitcoin “hands down.”<\/span><\/p>\n

AFP via Getty Images<\/small>
\n <\/figcaption><\/figure>\n

“Dogecoin is now a proxy for Twitter’s stock and Elon’s acquisition,” trader Alex Kr\u00fcger posted to Twitter<\/a>, adding, “if the Twitter board says yes, the stock would rise 16%. If they say no, it would dump over 20%.”<\/p>\n

On Thursday evening Musk admitted he is “not sure” his takeover bid for Twitter will be successful, speaking at the TED2022 conference in Vancouver, adding he has a “Plan B” if his bid for Twitter was rejected, without revealing the details. <\/p>\n

Musk said he’d target crypto scams and bots if he does manage to take Twitter private. <\/p>\n

“A top priority I would have is eliminating the spam and scam bots and the bot armies that are on Twitter,” Musk told TED curator Chris Anderson. “They make the product much worse. If I had a dogecoin for every crypto scam I saw, we\u2019d have 100 billion dogecoin.” When asked if Musk had regrets over “sparking a storm of excitement over dogecoin and where it’s gone,” Musk replied that he still likes both dogs and memes. <\/p>\n

Ahead of his appearance in Vancouver, Musk renewed<\/a> his call for dogecoin to increase its block size block speed, arguing doge “should keep pace with the rest of the internet” in response to dogecoin co-creator Billy Markus who said he’d “picked one-minute blocks eight years ago because someone on Bitcointalk said 45 seconds on a different chain was causing lots of issues, and 60 seconds was the fastest without having too many issues.” <\/p>\n

Musk and Markus were replying to a Twitter thread<\/a> by Robinhood’s Vlad Tenev who had asked whether dogecoin could “truly be the future currency of the internet and the people?”<\/p>\n

Last year, Musk proposed dogecoin increase its block time “10X, increases block size 10X and drops fee 100X,” which he claimed is “needed [for dogecoin] to become the currency of Earth”\u2014and will mean it beats bitcoin “hands down.”<\/p>\n

Meanwhile, Sam Bankman-Fried, the chief executive of bitcoin and crypto exchange FTX (who’s often known simply as SBF), argued<\/a> that a decentralized Twitter could integrate cryptocurrency to improve its finances.<\/p>\n

Sign up now for CryptoCodex<\/em><\/strong><\/a>\u2014A free, daily newsletter for the crypto-curious<\/strong><\/p>\n

MORE FROM FORBES<\/span>‘Potentially Dramatic’-Bitcoin Could Hit $1.3 Million In This Radical Crypto Price Prediction Scenario<\/span>By Billy Bambrough<\/span><\/small><\/span><\/span><\/a> <\/p>\n

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The dogecoin price has surged 30% over the last month, leaving bitcoin, ethereum and other … [+]<\/span> cryptocurrencies in the dust. <\/span><\/p>\n

Coinbase<\/small>
\n <\/figcaption><\/figure>\n

“Would this be good for Twitter’s bottom line,” SBF asked. “I think so, given that they’re only net making around $300m per year right now, but who knows for sure.”<\/p>\n

“Why not dogecoin,” SBF added. SBF thinks adding crypto and decentralizing Twitter would “democratize social media, make the finances transparent, and remove single point of failure moderation.”<\/p>\n

Musk himself has already suggested Twitter Blue’s subscription fee could be payable in dogecoin<\/a>.<\/p>\n

“Elon\u2019s interest in the space brings new attention to crypto involvement with social media\u2014his love for crypto and dogecoin is well known\u2014and this starts to validate Parler\u2019s thesis that the future of social media is a combination of social and crypto,” George Farmer, the chief executive of Twitter rival Parler, self-styled as a “viewpoint-neutral” social network, said in emailed comments.<\/p>\n<\/div>\n


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Dogecoin, the meme-based bitcoin rival that’s a favorite of Elon Musk, has surged this week as traders bet a Musk-owned Twitter TWTR would help doge. Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and successfully navigate the crypto price roller coaster The dogecoin price has lost 80% since memecoin madness pushed its price to 75 […]<\/p>\n","protected":false},"author":1,"featured_media":13891,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[46],"tags":[50,3031,1533,81,85,589,158,590,7274,195,7272,2560,7273,1569],"class_list":["post-13890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-bitcoin","tag-boosting","tag-buys","tag-cryptocurrencies","tag-dogecoin","tag-elon","tag-ethereum","tag-musk","tag-potentially","tag-price","tag-proxy","tag-soar","tag-stockdoge","tag-twitter"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/04\/1650049992_0x0.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/13890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13890"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/13890\/revisions"}],"predecessor-version":[{"id":13892,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/13890\/revisions\/13892"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/13891"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13890"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}