Dogecoin Trading Volume Surges 200%! DOGE Price Heading Towards $0.16

Elon Musk, has made the news once more. According to reports, Elon has purchased a 9.2 percent interest in Twitter Inc. He currently owns the most shares in the social media behemoth. In the meantime, Dogecoin 24-hour trading volume has increased by 200 percent in response to the news.

Twitter & DOGE 

Elon is well-known for his support for the world’s largest meme cryptocurrency. DOGE is something he never forgets to mention. He attempts to incorporate Dogecoin into everything he does. Tesla has begun to accept the token for its products and services, such as Supercharger Stations. He’s also hinted at the possibility of Starlink accepting Dogecoin in the future.

He has now surpassed Mark Zuckerberg as Twitter’s largest shareholder. Crypto aficionados predict that the day will soon arrive when this social media behemoth will embrace Dogecoin as well. Musk has frequently talked about improving the social media space, as Wu blockchain pointed out. He has also stated that he will encourage the use of Dogecoin on social media, according to the report.

Twitter had already announced the implementation of a new tipping tool for Bitcoin and Ethereum users. All eyes will now be on the social media site to see if it would take DOGE as a tipping method.

Elon recently sent a Dogecoin video to Brett Winton, Ark Invest’s Director of Research, and commented, “This video explains everything.”

Dogecoin Price 

Twitter’s stock price increased by roughly 25% in response to the announcement. The company’s stock was purchased by the world’s richest individual, who bought 73,486,938 shares.

Meanwhile, Dogecoin prices have risen by more than 8% since the news surfaced. The coin’s 24-hour volume increased by more than 200 percent to $2,039,878,355.

At the time of writing, DOGE Price is trading at $0.1516 with a 4% Rise. The major resistance lies at $0.1638 and $0.1650 levels. However, If the meme coin fails to hold above the $0.15 level the price may initiate a downtrend. A fall through the pivot would test the First Major Support Level at $0.1411. Barring an extended sell-off, DOGE should steer clear of sub-$0.1400 levels.