- Dogecoin is going up the hill on the back of the recent market surge and Elon Musk’s Twitter deal.
- The top meme coin is up to a new monthly high after it spiked over 31% in the past 48 hours.
- Dogecoin enthusiasts hang on in delight as speculation of new use cases for Dogecoin on Twitter escalates.
The supporters of Dogecoin (DOGE) are throwing in everything, with bulls speculating the asset to hit $1 in the coming months following Elon Musk’s Twitter acquisition.
DOGE has recorded huge gains this past week, making up for the last six weeks’ lows and is currently the highest gainer among the top ten coins in the last seven days. Ranked No 10 on the list of cryptocurrencies by market cap, the meme coin has had a massive price action with gains hitting 31%, trading at $0.077.
As DOGE continues to soar, bulls eye a potential run to break its all-time high (ATH) of $0.73 set over a year ago. In May 2021, Dogecoin reached an ATH in the build-up to an appearance on Saturday Night Live (SNL) by Musk, and a year and six months later, bulls are anticipating a new ATH still centered around the activities of Musk.
This time, the billionaire businessman and one of the biggest advocates for the meme coin is concluding a $44 billion deal for social media giant Twitter on Friday. Ahead of Friday’s deadline, Musk made an appearance at Twitter’s San Francisco office holding a sink and posted a nine-second viral video with the caption, “Entering Twitter HQ, let that sink in.”
Doge to the moon?
In the recent frenzy, DOGE bulls have been the biggest gainers as they await new use cases for their beloved asset with the Twitter acquisition. Elon Musk has hinted in the past that he would incorporate Doge as a payment option for several actions on Twitter. Musk has also stated that the digital asset will be used in the Boring Company’s Las Vegas loop.
With the deal within grasp, the DOGE community feels this is the time to buy more assets.
Statements like “Elon Musk is buying Twitter, moon soon” and “Doge to the moon” started trending on Twitter and other community spaces yesterday, with users pledging to buy more tokens with $1 in sight.