The Dogecoin meme token (DOGE) is getting pumped again. And once again, the billionaire and new Twitter owner Elon Musk is helping him do it.

Dogecoin price rose to $0.15 for the first time since April 2022. The token price jumped by 29% in one day. Dogecoin capitalization approached the level of $20 billion. During the week the growth was more than 159%.

The reason is that Musk not only bought Twitter but also posted a Halloween picture yesterday. It shows a devil’s pumpkins with a bird (Twitter logo) carved on it and a dog in a T-shirt with a bird, symbolizing DOGE.

Apparently, Musk thus hinted that he will make all cryptans’ nightmare come true and start accepting meme-tokens on Twitter. Or he just decided once again to help his beloved Dogecoin.

The Dogecoin meme token was created in 2013, it’s actually one of the oldest coins on the cryptocurrency market. The token’s listing on exchanges such as Binance and OKEx has strengthened its position, creating more stable trading flows and interest in coin accumulation. Representatives of the exchanges note its convenience, low transaction fees and reliability.

In mid-January, Elon Musk announced that the electric car maker’s merch could be bought for dog tokens. That said, meme-token creator Billy Marcus reacted instantly to Musk’s announcement, calling on the Dogecoin community to take action. “Alright Dogecoin community, you know what to do,” he tweeted.

Since the Ethereum merger, the meme token Dogecoin (DOGE) has become the second most capitalized cryptocurrency on the Proof-of-work (PoW) algorithm. Dogecoin is now second only to bitcoin.

Despite the new records, the coin is still worth 80.1% less than the record high of $0.731578 recorded in May 2021.

https://altcoin.ng/elon-musk-sends-doge-to-the-moon-again/