Dogecoin (DOGE) Whales Are Preparing For Elon Musk's Twitter Takeover

Billionaire Elon Musk is inching further toward his eventual takeover of Twitter and Dogecoin (DOGE) whales are positioning in preparation for the takeover. Musk's deal to acquire the social media platform has been one fraught with roadblocks along the way, but the two parties have now reached an agreement to facilitate the purchase.

Timeline of Dogecoin

Dogecoin (CRYPTO: DOGE) is trading higher by some 33.28% to $0.0796 over the trailing seven days. The timing of the push higher in the meme crypto appears to be highly correlated to Elon Musk's Twitter buyout.

 The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice A sudden rally materialized in the past couple of days for Dogecoin While the structure was bullish at press time, watch out for a break of this support zone to signal a bearish resurgence Dogecoin

Dogecoin (DOGE) is surging as Tesla CEO Elon Musk visits Twitter's headquarters before the deadline of his deal to purchase the social media giant. The billionaire tells his Twitter followers that he's visiting Twitter's San Francisco office just days before closing out a massive $44 billion deal to acquire the social media platform.

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Dogecoin (CRYPTO: DOGE) surged almost 12% higher at one point during Thursday's 24-hour trading session but was smacked down about 5% off the high-of-day, which caused the crypto to fall under the 200-day simple moving average (SMA). In The News: Sentiment in Dogecoin is turning bullish following news Tesla CEO Elon Musk's deal to purchase Twitter Inc (NYSE: TWTR) will close Friday.

Dogecoin rose by as much as 17% on Thursday, as Tesla CEO Elon Musk moved closer to completing a takeover of Twitter. Musk has been a public supporter of the meme coin in recent years, with some suggesting that it could be added as a payment method on the social media platform.

Dogecoin (DOGE) price has embarked on a multi-year price breakout amid high retail euphoria as Elon Musk seals the Twitter deal.  The post Dogecoin (DOGE): How Far Can the Elon Musk Induced Rally Go?

Dogecoin is up 16% to trade at $0.0768 on Thursday as Elon Musk closes in on the Twitter acquisition deal expected on Friday. The largest meme coin, which boasts $10.56 billion in market capitalization, saw its volume burst to $2.26 billion as investors and traders beamed with hope for a potential rally to $1.

Elon Musk and Dogecoin (DOGE) have one big thing in common: Memes. The world's richest man is more or less a walking meme generator, and the world's 10th-largest cryptocurrency is, literally, a meme.

According to information from CoinMarketCap, Dogecoin's (DOGE) price just reached a 10-week high (CMC). The well-known memecoin is currently selling at about $0.072, up 14% in the previous day.