Elon Musk buys Twitter, Dogecoin (DOGE) price explodes

Elon Musk buys Twitter

yesterday, Elon MuskCEO of Tesla and SpaceX, who are particularly well known in the crypto community for his Dogecoin (DOGE) releases yesterday. Take over Twitter (TWTR).

This is what Elon Musk did He repurchased all of the company’s stock at $54.20 per share, which corresponds to the initial offer amount. A show he had then defined as first and last, in so far as it would not rise. the amount The total deal amounted to $44 billion.

Thus, all previous Twitter contributors received $54.20 per share of their stock, which is a 38% capital gain Compared to TWTR’s stock closing on April 1, 2022, shortly before Elon Musk announced his purchase of a 9.2% stake in Twitter.

Twitter CEO, Brett Taylorhe indicated that the proposal was studied mainly through an economic axis:

“The Twitter Board of Directors conducted a deliberate and comprehensive process of evaluating Elon’s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will generate significant cash reward, and we believe it is the best way forward for Twitter shareholders.”

After the social network sale was formalized, Elon Musk tweeted to celebrate the event, invoking free speech and announcing new actions, such as remove android who leaked or Account authentication. As it was announced The platform algorithm will be made open source.

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Dogecoin (DOGE) seizes the opportunity to climb

Elon Musk anyway received support Jack Dorseythe former CEO of Twitter, who said:

“Elon is the only solution I can trust. […] In principle, I don’t think anyone should own or run Twitter. It is a public good, not a business. However, to solve the problem of Twitter being a company, you only need Elon and Elon.[…] This is the right way… I believe in it with all my heart. »

As so often with Elon Musk’s statements, DOGE price rose rapidlyinitially after rumors of confirmation of sale, before it even exploded It hits $0.17 around 9pm..

In total, the DOGE cycle has Developed 37% in just half a day.

48 hour DOGE cycle

We can now expect to see the price of DOGE shake up more and more after Elon Musk’s purchase of Twitter. In fact, it might be so This cryptocurrency is mixed in the network social In a way or another.

We recall that Elon Musk significantly allowed DOGE holders to purchase products on the Tesla website thanks to memecoin, which caused their price to go up. about 27% In just 5 minutes.

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Sources: PR Newswire, Tradingview DOGE / USDT

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About the author: Maximilian Pro

Twitter- soothsayerdata

Passionate about the world of decentralized finance and the novelties that Web 3.0 has brought, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
All articles by Maximilien Prué.

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