CryptoSlate Daily wMarket Update – Oct. 31: DOGE spikes higher on rumors of Twitter integration

Over the last 24 hours, the cryptocurrency market cap saw net outflows of $1.3 billion to $1,025.9 billion from $1,027.2 billion as of press time — down 0.2%. The post CryptoSlate Daily wMarket Update – Oct. 31: DOGE spikes higher on rumors of Twitter integration appeared first on CryptoSlate.

Timeline of Dogecoin

DOGE's price shows strength as it continues its rally with eyes set on a high of $0.2.  DOGE could rally more as the price creates more bullish bias by breaking out of a bullish continuation pattern with eyes set on rallying higher.

Twitter owner and CEO Elon Musk tweeted a picture of a Shiba Inu on Nov. 1, sending DOGE into a 22% rally in just 4 hours. The meme coin has had a phenomenal week because of Musk's acquisition of Twitter, with the token up by nearly 160% over the past week.

Dogecoin (CRYPTO: DOGE), the top gainer in October, doubled its value over the course of that month, but it was not the only coin to achieve that feat. Huobi Token (HT), the native token of Huobi Global, saw a 100.6% increase over the last 30 days.

On Halloween 2022, it took one carefully-crafted tweet with no text from the new owner of Twitter to drive the Dogecoin community wild, generate more FOMO, and push the $DOGE price to levels that few HODLers were expecting at the start of 2022.

Elon Musk has revealed the news and made hints that Dogecoin (DOGE) will soon be available on the Twitter network. Elon Musk recently tweeted a picture of a Shiba Inu dog wearing a Twitter t-shirt.

Following Elon Musk's Twitter acquisition confirmation last week, the price of Dogecoin (DOGE) went through the roof. For the first time since May of this year, DOGE surpassed the $0.01 mark and temporarily exceeded $0.14.

Elon Musk is yet again in the spotlight as the speculation of Dogecoin's acceptance for Twitter appears to be very close. Earlier, Tesla's CEO led the global space on fire by completing the Twitter acquisition and firing the top 3 executives in one go.

Well well, Elon Musk has spilled the beans and has hinted about Dogecoin (DOGE) coming to the Twitter platform very soon. In his recent tweet, Elon Musk shared a pic of the Shiba Inu dog breed wearing a Twitter t-shirt.

It's been more than four days since Elon Musk completed a $44 billion deal to acquire Twitter and since then Dogecoin has come into mainstream attention. After the news was confirmed the meme coin spiked nearly six-month high and managed to break major resistance levels.

A popular cryptocurrency analyst has suggested that the meme-inspired cryptocurrency Shiba Inu ($SHIB) may be seeing its price rally lose some steam after it surged, along with that of numerous other meme tokens.