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Dogecoin pumps as Twitter accepts Elon Musk’s $44 billion bid

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DOGE value jumped to highs close to $0.17, whereas Twitter shares additionally gained to shut 5.6% greater at $51.70.

Dogecoin (DOGE) surged by greater than 25% on Monday 25 April after its largest fan Tesla CEO Elon Musk, acquired Twitter (TWTR).

DOGE, which has pumped on earlier Musk-related information, soared to intraday highs close to $0.17. The highest meme coin’s upsurge got here after a day-long tease, with investor sentiment across the coin peaking after Musk reached a cope with the Twitter board over the acquisition.

Whereas the cryptocurrency stays a great distance off its all-time excessive of $0.73 reached in Might 2021, the response to right this moment’s information might solely be amongst many to return.  

On the time of writing, DOGE/USD was buying and selling round $0.16, about 15% up up to now 24 hours after paring among the intraday beneficial properties.

Twitter accepts Elon Musk’s $44 billion buyout

On Monday, Twitter introduced in a press launch that its board had “entered right into a definitive settlement to be acquired by an entity wholly owned by Elon Musk.”

In accordance with the announcement, the acquisition interprets to $54.20 per share for a price of $44 billion. At this value, Twitter shareholders are getting a 38% premium on the corporate inventory’s closing value on 1 April 2022, a day earlier than the Tesla CEO disclosed a 9% stake in Twitter.

Musk says he’ll guarantee Twitter turns into the ‘bedrock’ of free speech, higher than ever and freed from spam bots. He’ll improve it with new options in addition to search to authenticate all people.

Twitter has great potential – I look ahead to working with the corporate and the group of customers to unlock it,” he mentioned. 

Musk additionally hopes that him proudly owning the social media firm doesn’t push some customers off the platform.

I hope that even my worst critics stay on Twitter, as a result of that’s what free speech means

Elon Musk (@elonmusk) April 25, 2022

Twitter’s share value jumped from below $49.00 on Monday, hovering to highs of $52.29. Regardless of paring among the beneficial properties, the inventory nonetheless closed greater than 5.6% up at $51.70.

The submit Dogecoin pumps as Twitter accepts Elon Musk’s $44 billion bid appeared first on Coin Journal.

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