Elon Musk suggests integrating Doge with Twitter blue; token surges

Elon Musk and Dogecoin are in the news again. After buying a 9.2 per cent stake in the microblogging platform Twitter, Elon started suggesting various ways in which the platform could be improved and in a Tweet thread, he suggested Doge integration.

On Sunday Elon was suggesting various ways to improve the Twitter blue platform. He suggested an authentication checkmark (unlike the blue tick for verified accounts), no advertisements, and a new fee structure.

Among all his recommendations, he also suggested accepting Dogecoin as a payment option.
 

The token surged rapidly after Elon’s tweet. Dogecoin was trading at $0.1441 at 06:14 AM IST on Sunday. And minutes after the tweet Dogecoin started trending upwards. The token also broke its resistance level later in the day. Dogecoin reached its peak at $0.1569. The token rose 9.7 per cent from its day low levels.

Dogecoin’s rapid growth can be observed in the graph below.

Interestingly, after surging on Sunday, the value of the token dropped on Monday. The token is trading at $0.1465 as of 09:30 am IST as per data from CoinMarketCap.

This is not the first time Dogecoin surged due to Elon Musk’s tweets. Musk’s tweets have caused a rally in the value of the token many times in the past. He has also, many times publicly, claimed that Dogecoin is his favorite cryptocurrency and he has holdings in the token.