Dogecoin rose by 33% following Musk's acquisition of Twitter
At its peak, the Altcoin price exceeded $0.17. It reached its highest rate since April 6, 2022.
As RBC reports, Dogecoin rose by 33% after Elon Musk made a deal to buy Twitter for $44 billion, or $54.20 per share. On the evening of April 25, the Altcoin exchange rate was at its highest since April 6, reaching $0.17.
Musk is a strong supporter of Dogecoin. He often mentions the cryptocurrency in his tweets, and in January, he urged fast-food chain McDonald's to start accepting it as a means of payment.
Also, earlier this year, Tesla added Dogecoin as a payment option for its accessories. To make a purchase in the Tesla store, the buyer needs a Dogecoin wallet. Items purchased with cryptocurrency cannot be returned or exchanged.
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