DOGE Rallies 9% As Elon Musk Took 9.2% Stake In Twitter

DOGE rallies 9% as Elon musk took a 9.2% stake in Twitter which came as a surprise to many so let’s read more in today’s latest Dogecoin news.

Tesla’s CEO and founder of SpaceX, Elon Musk took a 9.2% stake in Twitter. According to the SEC filing, he purchased 73,486,938 shares of common stock, and with TWTR tradign at $39.31 it brings the total purchase to more than $2.8 billion. As for the price of Twitter stocks, it already jumped by 26% before the markets opened.

Free speech is essential to a functioning democracy.

Do you believe Twitter rigorously adheres to this principle?

— Elon Musk (@elonmusk) March 25, 2022

The price of DOGE rallies 9% and now stands at $0.153. Musk bought the Twitter stake after conducting a survey about Twitter’s adherence or lack of such to free speech:

“Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?”

More than 2 million Twitter users responded out of which 70% believed Twitter didn’t adhere to the principle of free speech. The CEO of Tesla and his purchase of a stake in Twitter came as the social media platform started exploring the possibilities of decentralization. Last year, Twitter announced a new team whose chief responsibility was to explore possibilities in the dapps space. Twitter Crypto is led by Tess Rinearson who said that the platform was tasked with setting a strategy for the future of crypto on Twitter. The team also was tasked with exploring ways to incorporate decentralzied technologies into the Twitter infrastructure itself.

Crypto supporters also were calling for a move towards decentralized social media platforms and Solana co-founder Raj Gokal said that he needed to be freed from centralized social media while announcing a $100 million initiative for Web3 social media tech alongside Reddit’s co-founder Alexis Ohanian. Last year, an experiment by Orange Paper suggested that if the invention of BTC preceded the one of Twitter, the technology behind the number one cryptocurrency would have caused Twitter’s evolution to go down a path of decentralization much faster than it did.

As recently reported, DOGE co-founder Billy Markus slammed the SHIB metaverse project and he went on to say that making a random metaverse and selling fake land with ETH will not enhance the SHIB utility. Markus revealed that he made only $3000 for creating Dogecoin eight years ago with a market cap of $80 billion so after seeing scammers making millions, he admitted to being “salty.” Markus claimed that every memecoin created after DOGE is a disgusting cash grab.