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Dogecoin Suddenly Spikes After Yesterday's Fall

Fri, 10/28/2022 - 09:23
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Yuri Molchan
Biggest meme coin has printed large green candle
Dogecoin Suddenly Spikes After Yesterday's Fall
Cover image via stock.adobe.com

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The meme coin DOGE, favorite crypto asset of Elon Musk, has again reversed, this time going up by 8.63%, printing a massive green candle on the hourly chart. It took the coin to the $0.0803 level.

Curiously, prior to that, despite Elon Musk officially announcing his ownership of Twitter, the DOGE price fell by more than 15% from the $0.0856 high on Thursday.

DOGEsoars0987y34re
Image via TradingView

After news emerged that Musk would close the Twitter purchase deal by Friday, the Dogecoin community began sharing its expectations that the centibillionaire will finally adopt DOGE for Twitter to tip bloggers or to pay for Twitter Blue subscriptions.

Related
Breaking: Elon Musk Acquires Twitter, Dogecoin Slips

Neither of these has been announced yet, although in the summer Musk did suggest accepting DOGE for Twitter Blue, hence the expectations of the DOGE army.

At the time of this writing, Dogecoin is trading at $0.0795 on the Binance exchange.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.