Dogecoin joke cryptocurrency skyrocketed in value amid Twitter sale

Dogecoin cryptocurrency reacted to the purchase of Twitter by American billionaire Elon Musk.

Here's What We Know

Since the beginning of the week, the token, named after the dog meme, has risen by more than a third. Its value has risen 35 percent since Monday, including a 10 percent jump in the last 24 hours after Elon Musk wrote Chief Twit in the description of his Twitter profile.

Another reason for the rise of the meme token might be the information about creating one's own cryptocurrency wallet DOGE on Twitter. The blogger Jane Wong wrote about it, but there is no information about the timing of the wallet's launch yet. And let's not forget that since 2021, Elon Musk has repeatedly expressed his support for Dogecoin.

Source: CNBC