Obsession of Dogecoin investors rose due to Elon Musk's buying of Twitter.

After Elon Musk‘s move, the meme coin cryptocurrency witnessed quite a good upsurge and far better than other top assets like Bitcoin, Ethereum, etc.

It won’t be an exaggeration if someone says that ‘Elon Musk is one of the biggest Financial Influencers’ of this time. After all, this could be seen as the man tweeting his thoughts and opinions regarding any company, any asset, or any cryptocurrency. It starts showing results in the reaction. For instance, consider the announcement of Tesla and SpaceX CEO when he said that his electric car manufacturing and clean energy company Tesla would accept payments in Bitcoin. The aftereffects of the announcement made the flagship cryptocurrency fly beyond the sky, and it attained the heights it hadn’t before.

A similar incident happened with the popular meme currency, Dogecoin, when a multi-billionaire entrepreneur changed payments methods from bitcoin (BTC) to DOGE. Since then, Elon Musk can be seen with his obsession with Dogecoin everywhere, whether he makes Tweets about the crypto asset or announce any initiative related to it. If today anything that Musk does, it reflects on the Dogecoin prices.

A completely fresh instance happened when Elon Musk purchased the social media giant Twitter while making a bold move. Although looking at the matter, it’s not even directly connected to Dogecoin anyhow, since it’s related to Musk and his activity, the memecoin responded positively and surged significantly. For a time after the news came out, the DOGE price even went high, up to 25% in a day.

So it’s clearly stated that Dogecoin is riding the waves created by Elon Musk. At this time, many DOGE holders would want to thank Tesla CEO for his high ambitions to buy Twitter, and finally, he did. Despite being a meme currency, an asset that started as a joke, mostly based upon an internet joke instead of a proper blockchain project, the crypto asset has traveled so far from its beginning to place itself among the top ten cryptocurrencies.

From there, what could happen are speculations and anticipations that could fuel Dogecoin to make moves. Accepting crypto assets for buying Tesla merchandise increased its price; the same could happen to fulfill transaction purposes using DOGE. Like Twitter revealed a tipping function where users were allowed to send creators bitcoins (BTC), it could be replaced by Dogecoin (DOGE), resulting in a positive memecoin response.

An analyst at GlobalBlock, Marcu Sotiriou, said that the Twitter deal’s news had made speculators buy Dogecoin seeking Musk’s obsession with it. Hence there are possibilities for Dogecoin to show its more potential, to provide more utility on social media giant platforms if the move of Elong Musk is successful.