Dogecoin: Musk, listen to me, thank you. Because of you, the currency circle is warmed up!

On April 26, Beijing time, a major event happened in the technology circle. Elon Musk, the world's richest man, who is called the real-life "Iron Man" by netizens, proposed to acquire Twitter for $44 billion and privatize it. According to official reports, the transaction is expected to close in 2022, and after the transaction is completed, Twitter will be a privately held company.

After the negotiation, Musk also excitedly sent a Twitter.

The general idea is that freedom of speech is the cornerstone of the operation of a democratic system, and Twitter is a civic square in the digital age, which is crucial to the discussion of the future of mankind. I also improve the product with new features, open up the platform algorithm to increase trust, fight fake trolls, verify all human users, and help make the Twitter platform better. Twitter has huge potential, and I look forward to working with the company and user community to unlock it.

Today we will not discuss what will happen to Twitter in the future. Let’s talk about Dogecoin, which is favored by Musk.

01 The Rise of Dogecoin

Musk can be described as a follower of digital currency identification. From time to time, you can see his attitude towards Dogecoin, Bitcoin and Ethereum on Twitter. And he directly promoted the rise of Dogecoin. The biggest manifestation is that Dogecoin once soared to $0.68.

Musk’s words and deeds affect the ups and downs of Dogecoin. Dogecoin, a coin that Musk has pinched to death.

02 Is Dogecoin valuable?

Speaking of the most basic concept, the supply of Dogecoin is unlimited. Therefore, the price of Dogecoin is theoretically gradually declining until it is worthless. Why do I say theoretically? If Dogecoin is not deeply bound by Musk, and there is no other celebrity hype, then Dogecoin will go away with the big waves of the Internet now.

It is precisely because of the deep binding with Musk that the well-known digital asset analyst Marcus Sotiriou said that the reason why speculators buy Dogecoin is because of Musk's love for Dogecoin. If Musk is successful, it may well mean the success of Dogecoin.

03 Impact on Dogecoin?

Recently, Musk has put forward a series of opinions on the TwitterBlue subscription service project, including price reduction, strict prohibition of advertising and allowing users to pay with Dogecoin. In the early days, Musk also hinted at using Dogecoin to pay in response to a YouTube blogger.

Previously, Dogecoin founder Shibetoshi Nakamoto tweeted that some practical functions of Dogecoin would be added: 1. Improve the commercial application of Dogecoin; 2. Use Dogecoin as a tip currency; 3. Build a link between Dogecoin and Ethereum A bridge between them, allowing it to be used with Web3. Musk responded that the first one is sure, the second one is good, and the third one doesn’t need it.

After a series of combined punches, after the news that the Twitter board of directors accepted Musk's acquisition proposal, according to bi123 trend tracking, the price of Dogecoin soared by about 27%.

Judging from Musk's recent remarks, he has been committed to monetizing Dogecoin. Perhaps in the near future, we will be able to see Dogecoin on Twitter, which will be a great advancement for cryptocurrencies. As a cryptocurrency, it truly realizes its transaction medium function.

The above views represent the views of the author only, not the views of the platform. Investment is risky, please invest carefully! On the premise of respecting the market, we are committed to researching market conditions, new projects, trend signals, NFT and deeper logic, and bid farewell to being a leek that lies flat.