Over the past 24 hours, Dogecoin (DOGE) has risen more than 8% to $0.065, whereas its capitalization last night reached $8.613 billion. This positive dynamics is reportedly due to Tesla CEO Elon Musk.
The rally was the result of yet another social media hype sparked by Musk’s announcement he was willing to buy Twitter Inc. for $25 billion. He has said that he is ready to pay $54.2 for each share of the company.
Although Elon Musk has sent his proposal to the board of directors of Twitter Inc., his representatives have not yet published any official comments.
Twitter stock have soared 18% amid media coverage of still unconfirmed information.