Dogecoin, which is over 100 won.Musk “Twitter acquisition completed by the 28th”
DOGE, the epitome of Meme Coin, soared more than 10% and exceeded 100 won in won.
According to Coin Market Cap, the Dogecoin price is trading at 101.81 won as of 8:20 a.m. on the 27th. This jumped 15.26 percent from 24 hours ago. Dogecoin has been on a steady rise since the previous day, but it surpassed the 100 won mark at 4:20 a.m. that day. It is trading at $0.07197 in U.S. dollars.
Tesla CEO Elon Musk, a self-proclaimed Dodge Father (DogeCoin father), seems to have been influenced by his willingness to quickly complete the Twitter acquisition contract.
Bloomberg reported on the 25th (local time) that Musk has promised to complete the Twitter acquisition contract by the 28th against loan banks that have decided to lend money to Twitter acquisition. Citing sources, Bloomberg reported, “Musk said this at a video call meeting with banks the previous day.”
Banks such as Morgan Stanley and Bank of America will lend 13 billion dollars (about 18.46 trillion won) out of 44 billion dollars (about 62.48 trillion won) of Twitter acquisition funds to Musk. Banks are currently completing the preparation of loan agreements and signing them, and the loans will be kept in escrow accounts, sources said.
You Today, a media specializing in cryptocurrency (virtual assets), predicted, “Since Musk came up with the idea of using Dogecoin as a means of payment on Twitter, Dogecoin will be seen by the public if the Twitter acquisition is successful.”
However, some believe that Dogecoin’s rally has never been held steadily, and that Dogecoin itself is a meme coin born for satire, so its potential is limited.
Dodgecoin was created by Billy Marcus and Jackson Palmer from IBM on December 6, 2013. It is a coin made as a joke to satirize the craze for cryptocurrency investment such as Bitcoin. Dodgecoin prices have soared and plunged dozens of times since Musk left a tweet saying, “I like Dodgecoin” in April 2019.