Main navigation

Dogecoin Becomes One of Top Purchased Coins for BSC Whales, Here's Why

Mon, 25/04/2022 - 14:50
Dogecoin Becomes One of Top Purchased Coins for BSC Whales, Here's Why
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

WhaleStats on-chain data platform has reported that the most popular meme cryptocurrency, DOGE, has entered the list of the top 10 coins BSC (BNB Chain) whales are after.

This happened after Dogecoin spiked by nearly 14% on the news regarding Twitter and Tesla boss Elon Musk.

Musk close to buying Twitter, Dogecoin soars

It has been confirmed that social media giant Twitter is to accept Elon Musk's bid to buy the company and make it private.

Earlier this month, U.Today covered that the Tesla boss and most influential Dogecoin fan, Musk, offered to purchase 100% of Twitter shares at $54.20 per share; this would total around $43 billion, and the centibillionaire offered to pay in cash.

When making this offer, Musk held 9.2% of Twitter shares, and other large shareholders of the social media giant rejected the offer and began to increase their stakes in Twitter.

However, at the end of last week, Elon stated that he had secured the funds to acquire Twitter. On Sunday, the company's board had an urgent meeting to discuss the offer of the world's wealthiest man and innovator.

On the news of Elon becoming the owner of Twitter in a week, the price of Dogecoin skyrocketed, printing a massive green hourly candle and adding 13.96%. It jumped from $0.1254 to touch $0.1418.

At the time of writing, the original canine coin is changing hands at $0.1401.

Dogecoin Fan Elon Musk May Buy Twitter This Week: Report

Elon Musk believes these things can improve Dogecoin's utility

On April 24, Dogecoin co-founder Billy Markus, known as "Shibetoshi Nakamoto" on Twitter, shared his theory as to what things could add utility to DOGE—the project he has no longer part of, while he still keeps track of it and initiates discussions on Twitter about Dogecoin and its adoption, utility, etc.

Markus suggested that three things could do it for DOGE: businesses accepting it as a currency (as many of them as possible—the more, the better for Dogecoin), using DOGE as a currency for tipping, and setting up a bridge between DOGE and Ethereum. This would allow a wide spread of the meme currency within Web3.

Musk responded to that tweet, saying that number one should definitely be implemented, number two would be nice and number three is unnecessary.

Will Twitter start using DOGE?

Now that Twitter is almost in Elon's pocket, many hope that the social media behemoth will start using DOGE for payments and tipping. Last year, Markus suggested that the coin must be used for tipping content creators after Bitcoin and Ethereum tipping features were introduced.

This year, after being invited to join the Twitter board, Elon also suggested using DOGE as payment for the Twitter Blue V.I.P. subscription.


Latest Press Releases

Cardano Praised by Dan Gambardello As Strong Chain While Avalanche Hit By Outage
Shiba Budz (BUDZ) Novel Meme Coin Pre-Sale Gaining Steam in Late February as Majors Dogecoin (DOGE), Shiba Inu (SHIB) Remain in Tops
Ripple Cofounder Celebrates Major Stellar Success, Polkadot Secures Spot on Coinbase Futures, Shiba Inu Burn Rate Surges 8,511%: Crypto News Digest by U.Today
Ethereum Dencun Upgrade Date Confirmed by Devs
Millions of XRP Shifted by Whales as Price Hits Key Support
Binance Web3 Wallet Announces Massive Crypto Giveaway to Celebrate ERC-404 Integration
Legendary Trader John Bollinger Issues Bullish Wake-Up Call as Bitcoin Price Turns Red
Spot Bitcoin ETFs Break Record With $50 Billion Trading Volume
Ethereum (ETH) Price Prediction for February 23
Solana (SOL) Price Prediction for February 23
BlockDAG Network (BDAG) Pre-Sale Might be Gaining Steam in February since Retik Finance (RETIK), and eTuk Tuk (ETUKTUK) Communities Show Interest
Shiba Inu Developer Excites SHIB Community With Tweet, What It Pertains To
SHIB Army Receives Crucial Warning From Shiba Inu Team
XRP Makes Crucial Price Move, But Massive Roadblock Is Ahead
Cardano Founder Hails Elon Musk's X for Crushing ECB's Bitcoin Diss
First ERC404 Token Pandora Shows Explosive Performance as Whales Turn to Buying
Avalanche Faces Downtime, AVAX Price in Red
Uniswap to Boost User Experience With UNI.ETH Domain Names
Cardano (ADA) Faces Possible Downturn, Top Analyst Warns
$4 Billion Worth of Ethereum (ETH) Purchased at This Price Level
Our social media
There's a lot to see there, too

Popular articles