Elon Musk Reaffirms Support for Dogecoin, DOGE Price Rallies

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Alex Dovb­nya

Tes­la CEO Elon Musk says that Twit­ter wants to make it eas­i­er to trans­act with cryptocurrencies 

Tes­la CEO Elon Musk reaf­firmed his sup­port for meme cryp­tocur­ren­cy Doge­coin dur­ing a recent con­ver­sa­tion on Twit­ter Spaces. 

The con­tro­ver­sial entre­pre­neur said “Doge­coin to the moon” when asked about the famed Bit­coin parody. 

Musk also said that the social media plat­form want­ed to make it eas­i­er to trans­act with the top meme coin. 

The DOGE price is up near­ly 5% over the past 24 hours, cur­rent­ly trad­ing at $0.104 on the Binance exchange. It remains the eighth biggest cryp­tocur­ren­cy by mar­ket cap­i­tal­iza­tion after sur­pass­ing Car­dano (ADA). 

As report­ed by U.Today, Doge­coin expe­ri­enced a sig­nif­i­cant price ral­ly in Octo­ber due to Musk com­plet­ing the $44 bil­lion acqui­si­tion of Twit­ter. The mar­ket expect­ed the bil­lion­aire to make the $14 bil­lion meme coin part of the platform. 

How­ev­er, the price of Doge­coin slipped after Twit­ter report­ed­ly shelved its plan to inte­grate a native cryp­tocur­ren­cy wal­let fol­low­ing Musk’s takeover. 

Musk’s most recent com­ments should be reas­sur­ing for DOGE own­ers since they sig­nal that the capri­cious bil­lion­aire doesn’t plan to aban­don the meme coin just yet. 

Last year, in an inter­view with Time Mag­a­zine, Musk said that Doge­coin was bet­ter suit­ed for trans­ac­tions com­pared to Bit­coin. The con­tro­ver­sial entre­pre­neur opined that the largest cryp­tocur­ren­cy wasn’t a good sub­sti­tute for a trans­ac­tion­al currency. 

Tes­la and SpaceX start­ed accept­ing Doge­coin for mer­chan­dise ear­li­er this year. 



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