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Tesla CEO and billionaire Elon Musk\u2019s acquisition of Twitter has tipped 62% of Dogecoin (DOGE)<\/a> investors into profit, amid speculation that Musk\u2019s Twitter-buy will be positive for the meme token.<\/p>\n DOGE\u2019s price rallied on Oct. 26 when billionaire entrepreneur Elon Musk changed his Twitter bio to \u201cChief of Twit\u201d \u2014 the same day he visited Twitter\u2019s San Francisco-based headquarters before officially closing the deal as the new owner on Oct. 28. <\/p>\n In the past seven days, DOGE\u2019s price has surged 93.3% to $0.116 at the time of writing,\u00a0according<\/a> to CoinGecko.<\/p>\n This means that as much as 62% of DOGE holders are \u201cMaking Money at Current Price\u201d according<\/a> to data from blockchain intelligence platform IntoTheBlock \u2014 which even beats out Bitcoin (BTC)<\/a> and Ethereum (ETH) <\/a>hodlers at 54% and 57% respectively.<\/p>\n The events have also triggered DOGE\u2019s market cap to surpass smart contract platforms Cardano and Solana into becoming the 8th largest cryptocurrency in the world with a $15.7 billion market cap, according<\/a> to CoinGecko. <\/p>\n The link between Musk\u2019s Twitter purchase and DOGE\u2019s massive price surge should come as no surprise as many Dogecoin investors have high hopes for Musk \u2014 nicknamed \u201cThe Dogefather\u201d \u2014 to integrate Dogecoin onto Twitter in some shape or form. <\/p>\n Dogecoin fanatic and crypto blogger Matt Wallace told his 678,400 followers on Oct. 28 that he believes a Dogecoin-integrated Twitter would showcase \u201cwhat #Dogecoin is capable of.\u201d:<\/p>\n Thanks to Elon Musk, Twitter will soon showcase to the entire world what #Dogecoin<\/a> is capable of!<\/p>\n \u2014 Matt Wallace (@MattWallace888) October 28, 2022<\/a><\/p><\/blockquote>\n While Dogecoin fan page \u201cDoge Whisperer\u201d speculated that a Dogecoin-based tip system could be implemented for popular tweets:<\/p>\n Can\u2019t wait for Twitter to add #dogecoin<\/a> as an option for tipping<\/p>\n What do you think @elonmusk<\/a> ? pic.twitter.com\/b7Eqz9hpEs<\/a><\/p>\n \u2014 Doge Whisperer (@TDogewhisperer) October 30, 2022<\/a><\/p><\/blockquote>\n Even Cardano CEO and founder Charles Hoskinson has weighed in \u2014 stating there is now a \u201creal possibility\u201d of Dogecoin integrating on to Twitter:<\/p>\n Now that Twitter is in the hands of @elonmusk<\/a> I can see a real possibility that doge will somehow merge with the platform.<\/p>\n \u2014 Charles Hoskinson (@IOHK_Charles) October 28, 2022<\/a><\/p><\/blockquote>\n Hoskinson then went one step further by offering<\/a> to migrate Dogecoin on to Cardano as a sidechain with embedded smart contract functionality for free.<\/p>\n Related: How Crypto Twitter could change under Musk\u2019s leadership<\/a><\/em><\/strong><\/p>\n In Jan. 2022, Tesla began accepting DOGE as a payment method for merchandise<\/a> purchases, with Musk also hinting at doing the same thing at SpaceX<\/a> in May. 2022. <\/p>\n The electric vehicle company also began accepting Bitcoin-based payment for its cars<\/a> in Jan. 2021, despite the CEO taking the view that Dogecoin is \u201cbetter suited for transactions\u201d<\/a> in Dec. 2021.<\/p>\n<\/div>\n\n
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