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62 Percent Of DOGE Hodlers Witness Profit Amid Twitter Integration Hopes

The Acquisition of Twitter by Elon Musk (the billionaire and the CEO of Tesla) has been profitable for up to sixty-two percent of those who hold Dogecoin (DOGE) at a time when speculations are being made that the canine token could be integrated by the social media giant after its takeover by the DOGE promoter.

DOGE Hodlers Enjoy Profits after Dogefather’s Dominance on Twitter

The price of DOGE went through a huge rally on the 26th of this month when Elon Musk modified the Twitter bio on his account to the “Chief of Twit.” This was done on the same day when he visited the San Francisco-based headquarters of Twitter on the 28th of October. In the previous 7 days, the price of DOGE has moved upward by 98.5% to reach $0.119 up till now, as per the statistics of CoinGecko.

This signifies that approximately sixty-two percent of those who hold the earliest meme coin are receiving profit at the present price, in line with the data provided by IntoTheBlock (a blockchain intelligence venue). This value proportion has even outperformed Ethereum hodlers (who are 57%) and Bitcoin investors (at 54%).

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These moves have additionally elevated the market capitalization of DOGE to leave behind the smart contract venues Solana and Cardano by occupying the place of the 8th biggest crypto asset across the globe with a market cap of nearly $16.3 billion, as per CoinGecko. The connection between the buyout of Twitter by the Tesla CEO and the remarkable upsurge in the price of DOGE has become more prevalent at present.

Several investors of the canine token are expecting that Musk (who is nicknamed Dogefather) would integrate the meme coin onto the social media platform in some form. On the 28th of this month, Matt Wallace – a crypto blogger and Dogecoin fan – shared his expectation with his up to 678,400 followers that Twitter – after integrating Dogecoin – would bring to the front the potential of the token.

Cardano Founder Offers to Make DOGE a Sidechain Containing Smart Contract Capability

Charles Hoskinson, the founder, and CEO of Cardano, also pointed toward the possibility of the above-mentioned integration and even offered free migration of DOGE onto his platform in the form of a sidechain with functionality related to smart contracts for free. DOGE was accepted by Tesla in January this year for merchandise payments.

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Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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