- DOGE grew to become one of many high gainers right now after Elon Musk rebranded Twitter as X.
- The meme token gained as a lot as 10%, topping a two-month excessive of $0.077.
- The demand for Dogecoin elevated after Musk briefly displayed its dog-themed emblem in his Twitter bio.
- Merchants additionally rushed to put money into a number of namesake tokens resulting in triple-digit good points.
Dogecoin (DOGE) witnessed double-digit good points earlier right now after Elon Musk rebranded Twitter as X. Musk, who purchased Twitter in October final 12 months, has owned the area identify X.com since 2017 and beforehand revealed his plans to show it into “the every little thing app”. The area identify now redirects customers to Twitter and is a part of the billionaire businessman’s broader plan to show the social networking platform into what he envisions as “essentially the most invaluable monetary establishment on the planet.”
Dogecoin Reaches Two-Month Excessive Of $0.77
Elon Musk took to Twitter not too long ago to announce his social networking platform’s new id. The rebranding included the X emblem featured on Twitter’s homepage, changing the enduring blue hen emblem.
X is the long run state of limitless interactivity – centered in audio, video, messaging, funds/banking – creating a worldwide market for concepts, items, companies, and alternatives. Powered by AI, X will join us all in methods we’re simply starting to think about.”
Shortly after the announcement, merchants scrambled to purchase up DOGE, anticipating some position for the meme token in Twitter’s overhaul. The memecoin gained as a lot as 10%, reaching a two-month excessive of $0.77. On the time of writing, DOGE was buying and selling at $0.75. The shopping for frenzy led to a 374% enhance within the memecoin’s every day buying and selling quantity, which topped $1.38 billion.
The rebranding to X additionally led to a number of namesake tokens witnessing triple-digit good points. Knowledge from CoinMarketCap exhibits that the worth of 1 X token elevated by a whopping 313%. One other token, X AI, which didn’t even exist until final week, gained greater than 166%.
Musk has been vocal in his help for Dogecoin, going so far as enabling DOGE funds on The Boring Firm, a web-based retailer that beforehand offered flamethrowers, perfumes, and even Tequila. A number of of his cryptic tweets with a refined trace of the dog-themed memecoin have despatched its worth hovering up to now.
Following the announcement of X, he even displayed Dogecoin’s emblem in his Twitter bio briefly. In early April, members of the crypto neighborhood on Twitter reported that they might see the canine mascot of the meme coin as an alternative of Twitter’s emblem on their homepage.