SINGAPORE - It's no joke. Elon Musk's acquisition of Twitter has put fresh wind in the sails of dogecoin, the meme cryptocurrency he catapulted to fame. Dogecoin's price doubled after the Tesla tycoon completed the $44 billion (S$62 billion) deal. It was trading at about $0.07 on Oct 27 before Musk tweeted 'the bird is freed' to announce his ownership....
SINGAPORE - It's no joke. Elon Musk's acquisition of Twitter has put fresh wind in the sails of dogecoin, the meme cryptocurrency he catapulted to fame.
Not bad for a coin that was created as a "joke" satirizing wild speculation in the crypto market and named after an internet meme of a Shiba Inu dog. Crypto watchers said the latest price jump, following the Twitter deal, was fuelled by investor bets that Musk would make doge a part of the platform's payments system.
Its share of the $1 trillion global crypto market cap through the year until the end of October was 1per cent, a fraction of bitcoin's 39 per cent according to CoinMarketCap. Now it's at 1.58 per cent.
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