Dogecoin price jumps 150% in four days as investors excite about Elon Musk's Twi...
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Dogecoin price jumps 150% in four days as investors excite about Elon Musk's Twitter acquisition
Dogecoin price jumps 150% in four days as investors excite about Elon Musk's Twitter acquisition
October 31, 2022 6:15 pm
Dogecoin price jumped more than 150% in four days as traders speculated Twitter’s potential to create a cryptocurrency wallet product after Elon Musk’s acquisition.
Cryptocurrency exchange Binance showed that the price of the popular meme token briefly touched $0.151 on Oct 30, which represent more than 150% growth from $0.063 on Oct 26.
The price jump reflects investors' excitement about Elon Musk's Twitter acquisition on Oct. 27. Earlier this year, Musk had come up with the idea of making Dogecoin a payment method to purchase the Twitter Blue subscription.
In Jan. 2022, Tesla began accepting DOGE as a payment method for merchandise purchases, and Musk also hinted that do the same thing at SpaceX in May. 2022.
The relative strength index (RSI), an indicator determining the degree of recent price changes to analyze overbought or oversold levels, has risen to 93.69 on the daily Dogecoin chart. This is the highest level since April 2021.
According to data from blockchain intelligence platform IntoTheBlock, 62% of DOGE holders are making money at current price range.
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