ElonMusk paid $44 billion to change the Twitter logo to the Dogecoin meme. 🤓 So what does this mean for the crypto community?
A cool 25% gain in value for Dogecoin in a matter of minutes. Which equates to about $3 billion more in market capitalization.So that’s where things stand as of now. But is this just one late April Fool’s joke or is there something more behind it?To make a long story short. No one knows what’s really going on in Elon’s head when he pumps the price of Dogecoin with such stunts. Butis that he wants a lawsuit alleging the operation of a pyramid scheme to promote Dogecoin thrown out.
However, rumor has it that there are, ahem, factions with considerable DOGE bags that could do with a pump. Someone checked the chain to confirm this:. But someone’s bags are going up in value when DOGE pumps, that’s plain math.While he’s alluded to such a possibility in the past, nothing has really happened since he let it sink in that there’s a new boss in Twitter town. So that possibility looks rather remote, especially considering that Facebook triedat some point.
As he said himself, the most entertaining outcome is the most likely — so no one knows what really is going to happen next.Well, it looks like it. However, some analysts think this could actually have interesting ripple effects. Here’s Jim Bianco with a hot take:
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