#DogecoinToTheMoon: Elon Musk’s Twitter deal set for Friday – can Dogecoin continue to surge?
The price of dogecoin (DOGE) has picked up once again as the deadline approaches for Elon Musk to complete the $44bn takeover of social media network Twitter.
The closing date of the deal is Friday 28 October, when Musk also plans to address staff at Twitter HQ.
Meanwhile, at the time of writing DOGE has rallied to a 30-day high and was up 30% over the past seven days, as of 27 October.
DOGE to USD
Musk’s change of heart
Musk has a history with dogecoin. The entrepreneur’s tweets have often caused volatile price movements of the meme token, whether it was the promotion of his appearance as guest host on US comedy show Saturday Night Live or a dog-themed magazine cover.
The price of dogecoin also rallied earlier this month following the U-turn by Musk to go through with the purchase of Twitter (TWTR).
Twitter (TWTR) share price chart
This followed news that the social media network was pursuing legal routes after the billionaire backtracked on his original offer in July.
Musk reproposed to buy Twitter on 5 October for the previously agreed price of $54.20 a share. The following day DOGE rocketed and hit a high of $0.066.
DOGE’s recent movements
Dogecoin regained momentum on 25 October as Musk geared up to complete the takeover deal.
The entrepreneur posted a video on Twitter of him carrying a kitchen sink into the office. While not clear, this could potentially relate to the business term “kitchen sinking”, which is defined as taking extreme action at a company.
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
DOGE has experienced steady gains since Tuesday 25 October. The meme token climbed above $0.07 on 26 October and reached a provisional high of $0.080 the following day.
At the time of writing, DOGE was trading at $0.077, up 16% in the past 24 hours and 30% over the past week.
Markets in this article
Related topics
