Elon Musk’s Twitter Purchase: DOGE and SHIB Go Parabolic
- Blog
- October 28, 2022
Elon Musk’s Twitter Purchase: DOGE and SHIB Go Parabolic
While Twitter stock (TWTR) rallied a little after Bloomberg reported that Elon Musk would be closing the Twitter purchase deal, Dogecoin (DOGE) and Shiba Inu (SHIB) have been the major beneficiaries. The Floki (FLOKI) cryptocurrency is seemingly a major beneficiary as well.
Dogecoin rallied 15% by Wednesday evening and is likely to witness a more explosive rally. The latest move came after Elon’s tweet of a video of himself carrying a sink into the Twitter headquarters, captioning, “Entering Twitter HQ — Let that sink in!”
Dogecoin and Shiba Inu have rallied harder and gained more than Twitter stock itself since it was reported that Elon Musk would be closing the Twitter deal on Friday. This is because Elon Musk has publicly backed Dogecoin time and again, also enabling people to buy Tesla merch with DOGE. He has also repeatedly expressed his intention of integrating cryptocurrencies on Twitter and with a preference for Dogecoin.
The integration of cryptocurrencies on Twitter is bullish for the entire crypto sector and aids the mainstream adoption of crypto. And if Dogecoin is rallying, so will Shiba Inu, following closely behind.
Floki (FLOKI) is another meme crypto to focus on as DOGE and SHIB rally. It is a popular meme coin inspired by Elon himself and named after the Shiba Inu pup. Floki is likely to be in the spotlight soon as the other two meme coins rally. The young meme coin is currently much smaller than Dogecoin and Shiba Inu and focuses on utility, meaning it could very well be the one with the most potential among the pack.
