The hope that Twitter will accept the Dogecoin cryptocurrency as official increases its value.

One of the big changes that Elon Musk can make (you never know with a billionaire) after buying Twitter, This includes embracing the world of blockchain and cryptocurrencies.

Besides, we all know about his love for one very specific, Dogecoinconsidered by some to be the original memcoin that caused an uproar in 2021 when its price skyrocketed and the recent swings between Twitter and Elon Musk left the currency untouched despite the volatility generated by the multi-millionaire in its price.

Twitter itself has a history of infiltrating the crypto world due to the interest of its former CEO Jack Dorsey and now some enthusiasts are hoping that Musk will tie cryptocurrency and Twitter together.

Also, it seems that the platform can turn to this world. This is Elon Musk himself, who, although he has not yet decided anything, has already hinted at plans to make the site more crypto-friendly, including accepting the meme-inspired Dogecoin token as a payment method (what is already included in Tesla).

Dogecoin cryptocurrency meme skyrockets after Elon Musk buys Twitter

But how could it be otherwise, after the announcement that we were all waiting for, failedmemcoin skyrocketed. The rise is also due to some hopeful, perhaps misguided, speculating about whether the billionaire will turn Dogecoin into a sort of currency Official twitter.

October 25 Dogecoin held costs around $0.06 per coin, rising to around $0.13 on October 31st. It’s still pretty small, of course, and experts regularly warn against investing in a coin-meme.

This reality does not seem to prevent some from acquiring Dogecoin, no matter what, in the hope that Musk will directly or indirectly cause a new increase in its value.

Dogecoin – people’s crypt

— Elon Musk (@elonmusk) February 4, 2021

However, and despite this, doubts seem to haunt the millionaire in this regard, because. his relationship with this world has been rather convulsive in recent months. Let’s just remember how he sold part of his holdings in bitcoin, since the cryptocurrency He was in a state of collapse.

In addition, it is currently in demand precisely because of the high volatility that Elon Musk has created and is creating around the price of Dogecoin. According to this class action lawsuit, the damage caused by Musk’s tweets would be the equivalent of approximately $86 billion, and in the lawsuit itself, they ask for compensation in the triple amount of the value that they allegedly lost.