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- Dogecoin experienced a massive surge in the last 7 days.
- Elon Musk met Tim Cook at the Apple headquarters.
- Tesla CEO is working on an overall Twitter update.
Why is DOGE Rising?
Dogecoin, the popular meme-coin, was among the top gainers this week in the crypto market. According to the CoinMarketCap data, the price surged by almost 26% in a week. Since Elon Musk’s Twitter acquisition, the virtual asset is witnessing positive momentum primarily.
Recently, the Tesla CEO posted some images showing some updates for the so-called Twitter 2.0. Though his post did not include any mention of Dogecoin integration on the platform, investors are still hopeful that this may actually happen at some point. Elon Musk’s support for the meme cryptocurrency remains the major cause behind investor’s faith.
The post involved updates like longform tweets, blue verified relaunch and more. Furthermore, Elon Musk said that hate speeches from the platform were reduced according to the image stats. New user sign ups were up by 86% and the active user spending time was increased by 30%.
The Tesla CEO recently got into conversation with Elizabeth Wheeler, an American commentator, where she suggested that if Google and Apple boot his social media app from Twitter, he should go on to make his own smartphone. Elon Musk hopes that things should not escalate to this point, but if it does, he may think about it.
All this happened after the rumors started circulating the market that both the aforementioned tech giants may remove the app from their application stores. Elon Musk tweeted that their company would “go to war” rather than paying 30% fees to the App Store.
But Elon Musk recently said that the meeting with Tim Cook, Apple CEO, at the company HQ has cleared all confusions. He added that it was a good conversation and Cook never had any intentions of doing so. Now that Elon Musk has new plans for the company it is noteworthy how this will play out among the iOS and Android users.
On November 1, 2022, Elon Musk posted an image containing a “Dog” wearing a Twitter T-shirt alongside an illuminating halloween pumpkin. The tweet instantly led the users to think that this has something to do with Dogecoin’s integration on the social media platform.
Dogecoin Price Action
Dogecoin was trading at the market price of $0.1037 at the publication time, an over 26% gain in the last 7 days. The meme-coin tasted this year’s high during November 2022 after Elon Musk Tweeted the aforementioned halloween image. The chart shows a steady rise since mid November, which we can associate with Tesla CEO’s recent announcements he made on Twitter.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
