Dogecoin (DOGE) Gains 8% As Elon Musk Revives Twitter Deal

The DOGE Army received some great news on Tuesday, October 4th, as Elon Musk has seemingly decided to proceed with his Twitter buyout deal. The news was confirmed by Bloomberg, after Musk’s lawyers filed an official proposal to acquire the social media platform for $54.20 per share. The groundbreaking news saw the price of Dogecoin (DOGE) catapult approximately 8% shortly thereafter.

$DOGE pumping because of it https://t.co/TG4ZmVtdik
— ?ona D€a (@BonaDeaCrypto) October 4, 2022

Dogecoin’s (DOGE) Future as the “Currency of the Earth”

Tesla’s CEO loves the idiom “fate loves irony”, having declared his love for the top dog meme currency on multiple occasions. Allegedly, Elon Musk’s grandiose plans for Dogecoin (DOGE) includes implementing the beloved token into Twitter’s ecosystem. For instance, it was suggested that a person could have to pay 0.1 Dogecoin (DOGE) in order to publish a tweet. Furthermore, the dog-themed cryptocurrency could be made available as an option to pay for Twitter ads.

Elon “The Dogefather” Musk’s has previously talked about plans to release an all-in-one app called ‘X’. While Dogecoin’s (DOGE) Founder Shibetoshi Nakamoto sarcastically expects the ‘X’ app to be able to fold his laundry, YouTuber and crypto influencer Matt Wallace took the notion a step further, preaching that Dogecoin (DOGE) could become “the currency of the Earth” in the future.

ELON MUSK IS GOING TO MAKE DOGECOIN THE CURRENCY OF EARTH YOU HEARD IT NOW
— Matt Wallace (@MattWallace888) October 4, 2022

The 5% Debate: How Many Bots Are There Really?

As previously reported, Elon Musk’s deal with Twitter initially fell through because Twitter CEO Parag Agrawal asserted that the percentage of bot accounts on the social media platform does not exceed 5%. There has been a great deal of speculation on the topic ever since, with some claiming that Twitter has concealed crucial information related to bots and the overall security of the micro-blogging platform.

Be that as it may, in the wake of the news on Wednesday morning, numerous Twitter users believe that things have changed for the better. Dogecoin (DOGE) Founder Billy Markus claims that he lost around 200 followers in the span of a couple of hours, while YouTuber Matt Wallace asks: “Where did the bots go?”.

Ultimately, the founder of the leading meme coin sees Elon Musk’s acquisition of Twitter as a win-win situation; not only for Dogecoin (DOGE), but for the planet.

if elon musk makes twitter better, then twitter will be better

if elon musk ruins twitter, then we don’t have to hear all the stupid things that people say on twitter anymore

that’s a win-win
— Shibetoshi Nakamoto (@BillyM2k) October 4, 2022

On the Flipside

Many Twitter users believe the news to simply be a publicity stunt.
Dogecoin (DOGE) has dropped by 91% from its ATH so far in 2022.
Elon Musk’s love for Dogecoin (DOGE) gave rise to a $158B lawsuit against the billionaire.