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According to the online metric Google Trends, over the past three months, user activity for the search query “buy Dogecoin” has increased by 625%. The experts shared their opinion with the Crypto.ru editors regarding the possible reasons for such dynamics.
StormGain cryptocurrency exchange expert Dmitry Noskov believes that this activity is closely related to the growing interest of users in Dogecoin. After Elon Musk took over at the helm of Twitter, he repeatedly said that he plans to introduce cryptocurrency payments into the social network.
It is noteworthy that the American billionaire actively supports Dogecoin and, according to him, is the holder of this coin himself. In this regard, the cryptocurrency community expects DOGE to be one of the first to appear on Twitter. This will give a significant impetus to the further development of the startup and will favorably affect its market position.
PretoBusiness Chief Executive Officer and Commercial Director of Transdiscipinary Agora for Future Discussion International Organization Victoria Ustimenko expressed her opinion: Elon Musk recently acquired the social network Twitter, while he is considered the unspoken promoter of Dogecoin. It is likely that there are certain insiders that allow us to say that the American billionaire is implementing DOGE into the Tesla ecosystem. It is possible that Dogecoin will also appear on Twitter if it is endorsed by the SEC.
A back-end developer with many years of experience, Valery Kabisov, suggested that Elon Musk has a significant impact on the entire cryptocurrency industry. One of his tweets can change the capitalization of the sector by tens of billions of dollars. He actively supports Dogecoin, which greatly contributes to the growing popularity of this coin.
The end of the story with the acquisition of Twitter and posts about the need to integrate digital currencies into the social network contributed to the growth in demand for DOGE. At the end of last month, Musk announced plans for the development of Twitter, giving the public a presentation. It lacked a “payments” section, which may indicate the potential integration of cryptocurrencies into the social network. If this happens, then Dogecoin has every chance of a significant increase.
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