DOGE Surges 26% After Elon Musk Twitter Takeover: Analysis

DOGE surges 26% after the recent takeover of Twitter by Elon Musk as we can see more today in our latest Dogecoin news.

Musk added:

“Twitter has tremendous potential—I look forward to working with the company and the community of users to unlock it.”

Twitter entered a new age which is when the company is solely owned by Dogecoin’s biggest fan and that is Elon Musk. Doge surges 26% as of the time of writing and peaked at $0.1675 after the new deal was announced. Bitcoin and ETH were also up by 1.6% and 2% on the day. Dogecoin’s price is prone to react to Musk’s accomplishments and DOGE-related proclamations on Twitter. His memes were much more responsible for pushing DOGE to a third place market cap among all cryptocurrencies when it hit a new price high of $0.73.

Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.

— Michael Saylor⚡️ (@saylor) April 25, 2022

Musk took over the social media platform and this spurred excitement across the crypto community including the one from Billy Markus who jokingly asked if Elon Musk can buy the SEC now, calling out the regulator for being slow to approve a spot market BTC ETF. Microstrategy CEO Michael Saylor one of the world’s biggest BTC whales also offered his congratulations on Twitter, quoting the first amendment of the US constitution where he guarantees that the government cannot infringe on the citizens’ free speech.

The company often centered on pro-free speech arguments and Musk praised Twitter’s potential to become a platform for free speech acorss the world. He said that he didn’t believe that this could happen if Twitter remained a public company. Musk also promised to defeat the spam bots while in charge and added:

 “Twitter has tremendous potential—I look forward to working with the company and the community of users to unlock it.”

As earlier reported, The popular meme coin Dogecoin surged by more than 12% in the past few hours after the reprots that Twitter might reach a deal with Tesla and the SpaceX CEO Elon Musk. Musk is also a well-known DOGE pumper and has used social media platforms to shill the memecoin on a few occasions. The recent filings show that Musk earmarked $46.5 billion to acquire Twitter and the new reports show that DOGE surges on reports that Twitter is likely to sell the company for $43 billion in cash an offer the Tesla chief said is the best and final.