Why Dogecoin Continues to Zoom Higher
Over the last 24 hours, the price of Dogecoin (CRYPTO: DOGE) has traded 16.5% higher as the meme cryptocurrency continued its massive rally this week. Over the past five days, the price of Dogecoin is up more than 80%.
The rally has been triggered by Elon Musk completing his takeover of the social media giant Twitter. Musk is seen as a leader in the Dogecoin community, as it is one of three cryptocurrencies the Tesla founder owns, and his comments and actions have led to several bull runs for Dogecoin.
Many investors seem to believe that Musk may incorporate some kind of crypto component into Twitter that might include the use of Dogecoin, which might spread the cryptocurrency's exposure and use. There are reports that Twitter is working on a digital wallet prototype that would support crypto deposits and withdrawals.
Source Fool.com
