62% of Dogecoin Holders Profit Hoping for Twitter Integration

DOGE Price Surges 98.5% in Last Seven Days After Elon Musk's Acquisition of Twitter, Boosting Crypto at the eighth position in the world ranking of cryptos.

The acquisition of Twitter by Tesla CEO and billionaire Elon Musk has swung 62% of Dogecoin (DOGE) investors into profit, amid speculation that Musk's purchase of Twitter will be positive for the market. meme token.

DOGE's price increased on October 26 when billionaire entrepreneur Elon Musk changed his Twitter bio to "Chief of Twit" - the same day he visited Twitter's San Francisco headquarters before officially closing the agreement as new owner on October 28. .

Over the past seven days, the price of DOGE has jumped 98.5% to $0.119 at the time of writing, according to CoinGecko.

This means that up to 62% of DOGE holders are "making money at the current price" according to data from blockchain intelligence platform IntoTheBlock - which beats even Bitcoin (BTC) and Ethereum hodlers (ETH) at 54% and 57% respectively.

Events also prompted DOGE's market cap to overtake smart contract platforms Cardano and Solana to become the 8th largest cryptocurrency in the world with a market cap of $16.3 billion, according to CoinGecko.< /p>

The connection between Musk's Twitter buy and DOGE's massive price spike should come as no surprise, as many Dogecoin investors have high hopes for Musk - nicknamed "The Dogefather" - to integrate Dogecoin on Twitter in one form or another.

On October 28, Matt Wallace, Dogecoin fanatic and crypto blogger, told his 678,400 followers that he thought a Dogecoin-integrated Twitter would show "what #Dogecoin is capable of." :

Thanks to Elon Musk, Twitter will soon be introduced to the world...