Dogecoin rate rose sharply after Musk’s announcement about the future of Twitter

The Dogecoin exchange rate exceeded $0.1 on the evening of November 27, 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 by 23%.

The latest rise in the altcoin price 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 called for broader integration of payments on Twitter, including cryptocurrency. The businessman has repeatedly expressed support for Dogecoin. For example, in May, he claimed that altcoin has the potential to become a currency.

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