Should you buy DOGE after it jumped in value after Twitter 2.0 plans? | Invezz


Dogecoin (DOGE/USD) saw a 19% price surge after Elon Musk confirmed that he intends to integrate payments into what he described as Twitter 2.0 on November 27.

Dogecoin is a meme-cryptocurrency created to be an alternative to the serious tone found in other coins, such as Bitcoin (BTC/USD). 

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Elon Musk has historically heavily tweeted about the meme-coin in the past, and it even went up in value following the completion of the $44 billion Twitter deal.

Twitter 2.0 plans as a catalyst for growth

In the latest Dogecoin news, on November 27, 2022, Elon Musk tweeted where he showcased slides from the Twitter company talk. 

In the slides, there is no mention of the Dogecoin (DOGE) cryptocurrency. However, this did not stop numerous crypto community members and investors from gaining hope that DOGE would be involved in some way. 

The value of DOGE surged by 19%, from $0.089 to $0.107 hours after the tweet on November 27. As of November 28, it stands at a value of $0.095, indicating a further increase. 

Other plans that were listed as part of the vision for Twitter 2.0 include Advertising as Entertainment, Video, Encrypted DMs, Longform Tweets, and Relaunch Blue Verified.

The platform has reached a new all-time high regarding new user sign-up and user active minutes. 

Source: Official Elon Musk Twitter page

Based on this, it is clear that Musk’s takeover of Twitter has made an impact.

Should you buy Dogecoin (DOGE)?

On November 28, 2022, Dogecoin (DOGE) had a value of $0.095.

DOGE/USD chart by Tradingview

The all-time high of the Dogecoin (DOGE) cryptocurrency was on May 8, 2021, when it reached a value of $0.731578. Here we can see that its value was $0.636578 higher, or 670% higher.

When we take a look at its 7-day performance, Dogecoin (DOGE) had its low point at $0.072650, while its high point was at $0.106019. Here we can see a difference in the value of $0.033369 or by 46%.

However, looking at the 24-hour performance, Dogecoin (DOGE) had its low point of value at $0.094048, while the high point was at $0.107015. This indicates a price difference of $0.012967 or by 14%.

With this in mind, investors will want to buy DOGE, as it can climb to 0.12 by the end of December 2022.

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