It's Showtime for Dogecoin Now that Elon Has Bought Twitter

Elon bought Twitter and now Dogecoin investors are having a gala in the crypto market

Currently, this is the biggest news in the tech industry! Elon Musk has finally taken over Twitter and has completed his US$44 billion deal. As soon as he took over the social media giant's reins, Musk fired several top executives, including its CEO, Parag Agrawal. The completion of the deal brings an end to the months-long legal struggle between Elon Musk and Twitter but has prompted several questions, including the prospects of Dogecoin.

According to reports, the Dogecoin price has rallied by over 155% since the news about Elon’s Twitter takeover hit the news. DOGE has gotten an enormous boost to its market dominance since the whole Twitter ownership ordeal. As per CoinMarketCap, Dogecoin has overtaken several major digital assets like Solana, Cardano, and Polkadot to become the eighth-largest cryptocurrency in the market. For months, investors have been speculating as to when the meme coin will finally rally and yield some productive returns. Well, it seems like Elon Musk is truly the saving grace for Dogecoin.

Experts say Dogecoin is this week’s best performer that has also been struggling with the rest of the cryptocurrencies due to the changing financial landscape and growing volatility in the digital asset market. However, given the history between Elon Musk and the meme coin, the latter’s price was ought to surge after the acquisition of the social media giant. Dogecoin price prediction reports convey that this price rally has led to a multi-month high and if Dogecoin is consistent with these price actions, it is only a matter of time before DOGE reaches the US$1 range.

Presently, DOGE is expected to keep climbing in the upcoming months the price of the asset is still climbing, at the time of writing this article. However, since it is a digital asset, Dogecoin’s value will still plummet, nevertheless, a massive price explosion is expected soon enough.