29 Oct 2022 12:50 GMT

The cryptocurrency may have a new lease of life, according to media.

The quotes of the dogecoin cryptocurrency against the dollar rose at 12% on Friday, once the businessman Elon Musk finalized the purchase of Twitter and took possession of that platform.

The upward trend has been going on for several days now: on Tuesday, the unit of this ‘meme’ cryptoactive was trading at just under 6 cents on the dollar, and is now above 8.4 cents.

Dogecoin owners can be even more excited as the cryptocurrency could get a new lease of life through the social media platform. valued at Baron’s. “And the bulls they see more profit in the futuregiven Musk’s long history with the token.”

The billionaire has repeatedly promoted dogecoin, and investors see new prospects for cryptocurrency after it acquired the microblogging network. One of the ways to promote dogecoin in this new stage could be to accept cryptocurrencies to pay for Twitter services.

In June, Musk’s company SpaceX began accepting dogecoins as a payment method, and Tesla followed suit in January.

Meanwhile, the price of bitcoin rose 1.8% to $20,627 on Friday, and that of ether rose 2.4% to $1,556.

This October 12, a correspondent from the InvestorPlace website included the doge among the five crypto assets of which recommended getting rid “right now”, before they crashed, along with another ‘canine’ token, the Shiba Inu. This, although in September the dogecoin He had returned to be part of the top 10 tokens by market capitalization and, after the ether merger, will be considered the second largest cryptocurrency which operates with a proof-of-work protocol, after bitcoin.

Source: Actualidad

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J. A. Allen

Author, blogger, freelance writer. Hater of spiders. Drinker of wine. Mother of hellions.

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