Not Just Dogecoin — This Altcoin Also Doubled In Value In October

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.

Timeline of Dogecoin

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.

Dogecoin was struggling in the market right up until the Twitter deal was finalized. However, once the Elon Musk takeover was announced, the meme coin rallied enormously and was up more than 100% in just a matter of days.

Shiba Inu (CRYPTO: SHIB) was spiking up over 10% higher at one point during Monday's 24-hour trading session, in tandem with Dogecoin (CRYPTO: DOGE), which reached 11.72% over Sunday's 24-hour closing price. The two Shiba Inu-based cryptocurrencies have been trading mostly in unison since Oct. 25, when Dogecoin started to surge higher following news Tesla CEO Elon Musk had told bankers he planned to close his acquisition of the now private social media company Twitter.

Since Tesla chief Elon Musk took over the reins of social networking giant Twitter, nearly $140 million worth of Dogecoin (CRYPTO: DOGE) have been liquidated, even as the popular memecoin continued its stellar performance on Monday, trading up over 10%. Having been widely mentioned by the "Dogefather" — as Musk is known in crypto circles — Doge has gained over 110% over the past week and has reached a market capitalization of a mouth-watering $17.36 billion, with the memecoin trumping Cardano (CRYPTO: ADA) as the eighth largest cryptocurrency.