Dogecoin spikes after Elon Musk announced the future of Twitter

(ORDO NEWS) — The Dogecoin exchange rate on the evening of November 27 exceeded $0.1, rising by 19% in a few hours. As of November 28, 10:00 Moscow time, the “meme” cryptocurrency is trading at $0.09, over the past week it has risen in price by 23%.

The latest rise in the price of altcoin occurred after the head of Twitter, Elon Musk, confirmed plans to integrate payments into the social network. The entrepreneur ’s publication did not mention Dogecoin, but despite this, its rate increased sharply.

In June, the billionaire advocated greater integration of payments on Twitter, including cryptocurrencies. The businessman has repeatedly spoken out in support of Dogecoin. For example, in May he argued that the altcoin has the potential to become a currency.

Elon Musk has already talked about the possibility of making payment for a premium Twitter Blue subscription service available in Dogecoin. Altcoin is accepted for payment by the transport network of the tunnels of the billionaire Loop in Las Vegas, and it could also be used to buy Tesla merchandise.

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