Crypto influencer and Gokhshtein media creator David Gokhshtein commented on the sudden spike in Dogecoin’s price after Elon Musk surprised the community on Crypto Twitter by replacing Twitter’s “bluebird” logo with the Doge logo.
“I only pay with DOGE”
The cryptocurrency entrepreneur rejoiced after the memecoin printed a huge green candle, up about 30 percent in the hour after Twitter’s new boss finally appeared to start integrating Dogecoin into the social media platform. The DOGE logo has replaced Twitter’s hallowed “bluebird” logo. Arguably Musk added memecoins as an option for micropayments and tips on Twitter, Gokhshtein said he would only pay in DOGE (and would “accept memes”).
The social media platform, which Musk acquired last October for $44 billion, has more than 400 million users, he said. 20% to start using DOGE for Twitter transactions would be an “industry win”.
Gokhshtein also reminded the crypto community that Dogecoin was the coin of the market’s previous two bull runs. He is a well-known memecoin advocate. In his tweets, Gokhshtein stated several times that he holds large amounts of DOGE and Shiba Inu. He expects SHIB to drop to $0.01 to sell off and possibly (albeit unlikely) even delete his Twitter account.
After the latest Dogecoin news, some whales started to take profits and sell their Dogecoin holdings. Specifically, cryptocurrency tracker Whale Alert noticed two large transactions, carrying hundreds of millions of DOGE, most likely to be sold.
650,000,000 #DOGE (65,559,028 USD) transferred from unknown wallet to unknown wallethttps://t.co/j1HVESp3fT
– Whale Alert (@whale_alert) April 3, 2023
The first transfer of 650 million DOGE, worth approximately $65.5 million; according to Lookonchain, by the fifth largest Dogecoin whale. The second transfer brought in a total of 300,000,000 DOGE worth $27.6 million. At the time of writing, Dogecoin is priced at $0.0992 on the Binance exchange.
Additionally, according to several recent tweets by @DogeWhaleAlert, the largest cryptocurrency exchange by volume, Binance, moved over 400 million DOGE between its internal wallets in the past 24 hours, with two large transactions carrying 301,667,311 DOGE DOGE ($29.6 million) and 100,906,386 DOGE ($9.9 million).
301,667,311 $ Governor ($29,677,728 USD) from #Binance wallet to #Binance wallet.
Cost: 2.41 ($0.24)
send: https://t.co/OnpOCVsW9A#DogecoinWhaleAlert #WhaleAlert #Dogecoin #cryptonews
— Dogecoin Whale Alert (@DogeWhaleAlert) April 4, 2023
With the rise in price, DOGE’s market capitalization rose nearly 29% to $13,972,987,874, and DOGE’s trading volume in the past 24 hours rose 671% to $5,125,163,854. In addition to Dogecoin, CoinGecko reports that all Doge-related meme coins are also bullish today.
Prominent economist and trader Alex Kruger tweeted that after the Dogecoin bull run, he thinks the market is giving way to what could be a “massive dog race” later this year.
He recalled May 2021 (when Dogecoin reached its all-time peak) and November 2021, shortly after SHIB surged to its all-time high. This time he bet on SHIB and SOV.
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