If Meme Coin Returned To Levels When McDonald’s Teasing Elon Musk, How Much Would $100 In Dogecoin Be Worth?
Dogecoin’s (CRYPTO: DOGE) value has fluctuated due to Elon Musk, a billionaire businessman, and his antics.
The most recent spike occurred over the Thanksgiving holiday as a result of rumours that co-creators of Ethereum (CRYPTO: ETH) Vitalik Buterin and Elon Musk were developing an upgraded version of the meme coin.
The Investment: When Musk spoke with McDonald’s Corporation (NYSE:MCD) in late January about accepting DOGE, a similar buzz developed around the currency. When McDonald’s stated it will adopt the token provided Musk accepts one of its criteria on January 25, 2022, DOGE soared to an intraday high of $0.1472.
An investor would make $54.95 in profit if DOGE’s price returned to where it was during the height of the McDonald’s buzz.
A Change in Elon Musk’s Crypto Plans for Twitter?
Fans of Dogecoin bet on Twitter integration in the future, but after Musk’s takeover, a planned cryptocurrency wallet is reportedly “on pause.”
When Elon Musk took over Twitter last week, many in the cryptocurrency community rejoiced because the Dogecoin enthusiast’s tweets and leaked texts hinted at deeper blockchain integration within the social media platform. In the days that followed, the price of DOGE even doubled. But according to recent reporting, crypto may not be Musk’s Twitter’s top priority as some had hoped.
A request for comment from Decrypt was not met with an instant response from Twitter. Following last night’s revelation, the price of DOGE dropped rapidly—by around 10% in only a few hours—but has already largely recovered. With a price of $0.128 right now, it has increased 115% in the previous 14 days.
On Twitter, he had also hinted that he planned to add Dogecoin as a payment option, much as how Elon Musk’s Tesla and The Boring Company take DOGE payments to a certain extent. In a leaked transcript of a June Q&A with Twitter workers, Musk said that a major future priority will be cryptocurrency payments.