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- On November 25, the price of Dogecoin surged 15%.
- The reason for this surge is the statement given by Elon Musk regarding the launch of his own smartphone.
As everyone knows that the price of Dogecoin is directly linked with Elon Musk’s statements and he also supports the meme coin blindly. In the recent past, Dogecoin has witnessed an enormous growth of more than 15 percent on November 25. The surge happened after the new chief executive officer of Twitter gave a statement that he will introduce his own smartphone as Twitter has issues in the famous mobile app stores.
The host of #TheLizWheelerShow posted on Twitter in which she mentioned that she was concerned that Twitter under the new regulations of Elon may be prohibited from the stores in which the two creators of the functional systems for smartphones sell Android and iOS-based apps.
In reply to this tweet, Musk highlighted that he anticipates that this will not happen. Although, if he is not correct, he guaranteed to introduce his own smartphone, which in this matter, eventually also indicates the introduction of a new operating system also along with an online store for applications.
The chart
Musk’s tweet came out on November 25, and this was the time when Dogecoin, firmly backed by Elon Musk as a potentially important means of payment for the future, started printing green candles on an hourly basis. As we take a look from Friday, the coin went up from $0.0810 to the $0.0936 level.
As per the reports revealed by CoinMarketCap, at the time of writing, the price of Dogecoin is $0.094112 USD with a 24-hour trading volume of $2,136,215,293 USD. The coin possesses a market capitalization of $12,485,968,906 USD.
Musk got the empire of Twitter in October by giving a handsome amount of $44 billion for the deal. Just after the acquisition, Musk fired the chief executive officer Parag Agrawal and other main officers. He also made a statement that those staff of the company who are not ready to work harder for the company to develop and grow it must resign.
To increase the company’s monetary profits, the CEO introduced a mandatory monthly payment of $8 for verified users to keep their blue check.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
