Dogecoin (DOGE) is currently occupying the top spot on CoinMarketCap’s “gainers and losers” list after a price increase of 31.56% over the last 24 hours. The DOGE price thus currently stands at $0.1652, around 0.00000408 Bitcoin.
Right behind DOGE on the “gainers” list is The Graph (GRT), which saw a 17.768% increase over 24 hours.
DOGE has also seen a relatively impressive increase over the longer time periods with a 17.03% increase over the last seven days and a 17% increase over the last month when looking at the coin’s price. According to CoinMarketCap, DOGE’s 24-hour trading volume stands at $7.03 billion, which is an outstanding 890% increase in the last 24 hours.
Of course, all of these figures follow Twitter’s Monday announcement that Elon Musk’s bid to buy Twitter for $54.20 a share has been approved.
Elon Musk, also known as the ‘DogeFather’, has been an active publicist for Dogecoin, and it is believed that he is working with the coin’s developer team to increase the utility of the coin. The infamous CEO has also stated that DOGE holders can purchase Tesla’s using the coin, as well as pay for SpaceX space trips in the near future.
News around Elon’s intentions to purchase Twitter has been making rounds in both the crypto and non-crypto spheres, causing a positive movement in DOGE’s price that, up until this point, has been fueled by anticipation of a potential integration between DOGE and Twitter. An event that could see the price of DOGE skyrocket to the moon.