According to a CNBC report, Tesla CEO Elon Musk has made a long-awaited acquisition. With a $44 billion contract, Musk is now in charge of the social media platform Twitter. Meanwhile, Twitter announced a new NFT feature. All these developments have affected Dogecoin (DOGE), Elon Musk’s favorite cryptocurrency. Here are the latest developments for Twitter and the price change of Dogecoin…
Elon Musk finally bought Twitter
Tesla and SpaceX CEO Elon Musk’s anticipated purchase for months has finally taken place. Elon Musk bought the social media platform Twitter for $44 billion. CNBC reporter David Faber shared that Twitter’s CEO Parag Agarwal and chief financial officer Ned Segal have left the company’s headquarters in San Francisco. Faber added that the managers “will not return”. The report comes after Musk shared his reason for buying Twitter in a tweet on Thursday. The billionaire name used the following terms:
I made the [Twitter purchase] to try to help the humanity I love. I accept this with all my humility that our failure to achieve this goal despite our best efforts is a very real possibility.
On the other hand, Faber believes that Musk will lay off some of the company’s employees. He even thinks that the number of people to be laid off will correspond to three-quarters of the employees. The 51-year-old billionaire changed the description of his Twitter account to “Chief Twit”. Faber believes Musk could be the impermanent CEO of the social media platform.
Twitter announced a new feature
Meanwhile, Koindeks.com As we reported, Twitter has announced an NFT feature. Twitter has announced new developments in the world of NFTs. Last night, Twitter announced the “NFT Tweet Tiles” test. According to the tweet, collections from Rarible, Magic Eden, Dapper Labs and Jump Trade NFT will be shown with details. The development came after the arguments of renowned tech blog author Jane Manchun Wong. About four days ago, Manchun claimed that Twitter is working on a prototype of a wallet that supports deposits and withdrawals of cryptocurrencies.
Dogecoin’s price reacted to all developments
Quickly after Elon Musk’s acquisition of Twitter, DOGE went up to about $0.084. In fact, the number one chest coin backed by Elon Musk has surged over 10 percent in the last 24 hours, then plummeted. Currently, its seven-day rise is 26.5 percent. With the latest price increase, it recorded the highest level in the last 10 weeks. DOGE retreated to $0.75 levels after rising $0.084. Meanwhile, Dogecoin’s hash rate rose to 815 TH/s per second on October 18. Thus, it reached its highest level in seven months.