‘ELON BUYS TWITTER’ Token, Dogecoin Pump After Elon Musk Buys Twitter for $43B
2022.04.25 18:21
‘ELON BUYS TWITTER’ Token, Dogecoin Pump After Elon Musk Buys Twitter for $43B
- Elon Musk will now become the sole owner of Twitter (NYSE:TWTR) for around $43 billion.
- Dogecoin and memecoin ‘ELON BUYS TWITTER’ surged in the last hour.
- Traders and investors should do adequate research before buying memecoins related to Musk’s Twitter takeover.
Tesla (NASDAQ:TSLA) CEO Elon Musk has shaken the digital space once again as he will now become the sole owner of social media giant Twitter. Just now, Twitter revealed that it has accepted Musk’s takeover bid of around $43 billion.
As a staunch supporter of cryptocurrency, particularly Dogecoin, Musk’s offer has caused his favorite dog-inspired cryptocurrency to shoot up.
DOGE/USDT 30-min chart (source: TradingView)
As seen from the chart above, DOGE’s candle in the last hour has skyrocketed from $0.12 up to $0.14 before facing a testing, causing it to settle at $0.137 at the time of writing. Interestingly, DOGE is not the only crypto to experience an impressive surge.
A meme coin with the name ‘ELON BUYS TWITTER’ recently witnessed a phenomenal 7000% surge as well.
ELON BUYS TWITTER chart (source: CoinMarketCap)
The memecoin came out of nowhere, although it is now enjoying the interest of many people who may be looking for a quick-profit scheme. At the time of writing, the memecoin has a trading volume of $538,892 as per CoinMarketCap.
However, as CoinQuora has reported earlier, investors and traders must exercise caution before investing in memecoins such as ELON BUYS TWITTER. Many of these memecoins can be used by token creators to take advantage of other investors.
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