Dogecoin price reacts to Elon Musk’s comments

• Elon Musk’s tweet of demand 3 Dogecoins for visiting the Twitter headquarters sent the DOGE price soaring.
• There’s a massive expectation from the Dogecoin community to integrate DOGE payments into Twitter. But under the current regulatory scenario, it seems kind of unlikely.

The Dogecoin (DOGE) price is once again rallying despite the consolidation in the broader market, and guess who’s behind it? Yes, this time as well a single tweet from billionaire Elon Musk has got the Dogecoin bulls back into action.

A Twitter handle that goes with the name DogeDesigner tweeted that he’s traveling to the US to witness the starship launch and would like to visit the Twitter headquarters too. He requested Elon Musk’s permission for the same. Responding to it, Musk agreed, however, adding that it will cost him 3 Dogecoins (DOGE). Interestingly, this is even less than the $8 Twitter Blue’s monthly subscription cost price.

Ok, but it will cost 3 Doge

— Elon Musk (@elonmusk) March 23, 2023

Well, this was enough to let the Dogecoin (DOGE) price shoot up by more than 4% earlier today. As of press time, Dogecoin (DOGE) is trading 3.27% up at a price of $0.07886 and a market cap of $10.4 billion.

This surge in the price could be attributed to the Dogecoin army which is optimistic that one day Elon Musk will allow DOGE payments on the platform. Billionaire Elon Musk has been a vocal supporter of Dogecoin for years now. In the past, Musk has also taken interest in the development of the Dogecoin ecosystem.

Soon as Musk took over Twitter last year in October 2022, there was a huge optimism within the Dogecoin community leading to a major bull rally for DOGE. Memecoin DOGE was one of the top performers in the 2021 bull run and since then it has been occupying a spot among the top ten cryptocurrencies by market cap.

Will Twitter Integrate Dogecoin? DOGE Whales In Action

Elon Musk has been a crypto supporter in general and has voiced his support for Bitcoin and Dogecoin in the past. In fact, his own electric carmaker Tesla owns a good quantity of Bitcoins on its balance sheet. Also, at one point, Tesla allowed its merch sales in Dogecoin.

Ever since his acquisition of Twitter, Elon Musk has been putting huge attention to the social media company. He has been busy streamlining operations at Twitter and working hard to make it profitable. There have been massive expectations from Musk that he would integrate crypto payments at Twitter.

However, the current regulatory environment around cryptocurrencies is quite heated up. In this case, Musk might not want to dabble with crypto integration anytime soon. At the same time, one cannot rule out the future possibility of the same.

Also, data from popular crypto tracker Whale Alert shows that there’s been a large movement of Dogecoins recently. A total of 930 million Dogecoins worth $71,940,654 have been on the move.

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