Dogecoin Skyrockets 22% as Elon Musk Visited Twitter HQ Ahead of Purchase

It seems that the relationship between Dogecoin and Elon Musk has paid more dividends to the memecoin as its price soared by double digits shortly after the Tesla CEO visited Twitter’s HQ.

It’s expected that Musk will complete the acquisition of the social media platform in the next few days.

• The ongoing drama between Elon Musk and Twitter continues to take new turns. Recall that the billionaire bought a massive stake in the social media platform earlier this year and said he wanted to purchase it and make it a private company shortly after.
• However, the social media firm failed to provide the required user data, and Musk decided to back off at one point. Twitter launched a lawsuit, and the billionaire renewed his interest in purchasing the company.
• Reports from about a month ago claimed that he was ready to buy it after the Judge said the acquisition had to happen before the end of November.
• Musk posted a video late last night carrying a sink into the Twitter headquarters and a wordplay, saying, “Entering Twitter HQ – let that sink in!” He also said he met a lot of “cool people” at the company’s office.

Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7

— Elon Musk (@elonmusk) October 26, 2022

• Somewhat expectedly, the price of Dogecoin exploded following Musk’s video, given their history. The billionaire has outlined his affection to the OG memecoin countless times in the past, and DOGE tends to trade higher when he does something big.
• This seems to be the case now as well, as the asset soared by over 20% in the past 8 hours to a 10-week high above $0.08.