- Post Elon Musk’s Twitter acquisition, the DOGE trading volumes shot up by 5,000 percent along with a strong price rally.
- Cardano founder Charles Hoskinson has proposed to make Dogecoin a Cardano sidechain.
Last week, the entire cryptocurrency market rallied way past $1 trillion and the top performer was the world’s largest memecoin, Dogecoin (DOGE). On the weekly chart, DOGE price is trading at 100 percent gains at a price of $0.12 climbing up two ranks to becoming the eighth-largest cryptocurrency with $15.6 billion valuations.
The recent price rally in DOGE comes as Elon Musk completed the Twitter acquisition last week in a $44 billion deal. As a result, the Dogecoin community cheered with a strong rally. There’s also a strong belief in the Dogecoin community that Elon Musk shall announce DOGE integration to Twitter in the future.
As per the data from blockchain intelligence platform IntoTheBlock, a staggering 62 percent of Dogecoin holders are currently in profit. This even beats out Bitcoin’s 54 percent profitable holders, and Ethereum’s 57 percent profitable holders.
The latest DOGE price rally has caused it to jump two ranks above leaving behind Cardano (ADA) and Solana (SOL). Dogecoin influencer Mat Wallace has been tweeting about the Twitter-DOGE integration for the last few days. “Thanks to Elon Musk, Twitter will soon showcase to the entire world what #Dogecoin is capable of!” he wrote. In another interesting prediction, Matt Wallace tweeted that the DOGE price will reach $69.
Dogecoin TO $69!!!!!!!!!
— Matt Wallace (@MattWallace888) October 30, 2022
This tweet comes just two days after Matt and his wife promoted a $69 Dogecoin giveaway. Note that 69 is a very popular meme number with a greater relevance within the Dogecoin community. However, $69 seems to be pretty far-fetched and it isn’t clear if the Dogecoin influencer has been making this prediction seriously. But in one of his tweets, he wrote: “Dogecoin volume now up over 5,000 percent in only days! Any is possible! #BuckleUp”.
Cardano founder on Dogecoin Twitter integration
The enthusiasm of Elon Musk acquiring Twitter has been also among some popular crypto personalities such as Cardano founder Charles Hoskinson. “Now that Twitter is in the hands of @elonmusk I can see a real possibility that doge will somehow merge with the platform,” he wrote.
Interestingly, Hoskinson also pitched Dogecoin to become an ADA sidechain. The Cardano founder said that he would do this integration for free and that he would also bring smart contracts to Dogecoin. Charles Hoskinson believes that this would be a great way to expand the Dogecoin ecosystem.
However, this recent interest in Dogecoin from the Cardano founder has been quite interesting knowing that he has criticized DOGE in the past. Dogecoin co-founder Bill Markus pointed him out asking: “oh, now suddenly you don’t hate dogecoin?” Responding to it, Hoskinson wrote:
Dogecoin finally has a use case. If elon decides to use it for twitter, then there are automatically 200 million users and a usecase. That’s a lot more real than memes.
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