Dogecoin Price Prediction as $2 Billion Trading Volume Comes In
Dogecoin price continues to lead among other crypto majors, bringing its weekly accumulated gains to 30%. The largest meme coin spiked to $0.0848 on Thursday but retraced to close the day at $0.0770.
As reported, Dogecoin price's potential to hit $1.000 is becoming apparent every passing day, especially with Elon Musk taking the reins as the CEO of Twitter. The billionaire, the founder and CEO of Tesla – the world's largest electric vehicle manufacturer, assured investors that he would complete the company's acquisition (Twitter Inc.) on Friday, October 28.
Elon Musk has taken over as the new CEO at Twitter after firing the ongoing CEO, Parag Aggarwal. A series of changes are expected at the social media company, with more layoffs, especially among its top executives. Two other people were shown the door, including Twitter CFO Ned Segal and the firm's head of legal, Vijaya Gadde.
Musk has been a major Dogecoin enthusiast to the extent of calling himself the "Dogefather." His statements about Dogecoin have often impacted its price. As the billionaire finalized his deal on the microblogging platform, Dogecoin price climbed from $0.0628 to a weekly high of $0.0848.
With Elon Musk at the helm of Twitter, Dogecoin could secure its position as the new social media meme coin. The largest meme coin use cases have continued to grow over the last two years, bolstered by its association with Musk.
Already over 2,000 global businesses accept Dogecoin as payment, according to the crypto media platform Cryptomode. Musk's two leading companies, Tesla and SpaceX, currently accept payments in DOGE.
DOGE will likely be accepted as the preferred token for Twitter-based transactions. Such backing will benefit Dogecoin as it tries to recoup the
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