Billionaire Elon Musk took ownership of Twitter in one of the largest tech deals in history. Musk is expected to spend roughly $44 billion on the social network, which is now valued at $54.20 per share. On April 14, Musk revealed his takeover attempt, calling it his ‘best and last offer.’
Musk has already suggested that Twitter be privatized. “If our Twitter bid succeeds, we will defeat the spam bots or die trying!” he tweeted recently. Then came another post in which he stated that all individuals on the site should be authorized. Finally, he reaffirmed this in his press statement following the deal’s ratification.
Dogecoin had a great day yesterday as it was announced that Tesla CEO and DOGE supporter Elon Musk might acquire Twitter. Throughout 24 hours, it increased by as much as 26%, peaking in the afternoon when Musk’s $44 billion acquisition was officially announced.
Today, though, hasn’t been as nice to Dogecoin. DOGE’s price had lost all of the upward price movement witnessed yesterday afternoon when Musk’s Twitter acquisition was officially disclosed, and it has now fallen 9% in the last day, according to CoinMarketCap statistics.
Dogecoin is still down roughly 81 percent from its all-time high price of $0.73 reached in May 2021, just before the cryptocurrency market plummeted. Moreover, after a spike in the early months of last year, it hasn’t gone close to recapturing those gains.
Elon Musk has been linked to the dog-themed cryptocurrency for a few years, with his frequent tweets and memes frequently causing DOGE price fluctuations. His backing for Dogecoin is thought to have aided in the cryptocurrency’s meteoric climb early last year when the price surpassed a penny for the first time and rose for months.
