Dogecoin Continues To Thrive With Over 93% Gains

October has been a bullish month for Dogecoin as the “Dogefather,” Elon Musk, takes over Twitter. The meme coin has still seen over 90% growth despite trading being in red at press time. The asset has seen a surge in demand. This surge comes as many anticipate that DOGE would gain value due to Musk’s purchase of the social media giant.

Dogecoin’s price increased from $0.05 on October 23 to $0.11 today, October 30, a gain of 93.%. The weekly DOGE chart also shows that Dogecoin’s price reached a 5-month high of $0.14 in October 23.

At the same time, capital has increased in this asset. The market valuation of the token increased from $9.02 million a week earlier to $15 billion at press time. It’s worth mentioning that the popular meme coin is still trading at a massive 82.66% loss from its all-time high.

Dogecoin snatches the 8th spot from Cardano

According to CoinMarketCap data, Dogecoin now ranks eighth in cryptocurrency market capitalization. Cardano held the position previously. Cardano lost out to Dogecoin last Saturday with a market capitalization of $15,366,657.028. With market cap of $13 billion, Solana (9) and Cardano (10), this puts Dogecoin ahead.

Monday’s rumours that Elon Musk would acquire Twitter’s social media platform boosted the value of the meme token. Doge’s optimism was maintained all week long, thanks to two mainstays. First, the crypto market’s overall growth in this week saw it surpass the $1 trillion threshold.

Beyond that, Elon Musk’s progress toward finalizing the Twitter takeover agreement was a major factor in Doge’s ascent. The billionaire visited Twitter’s headquarters on Wednesday and officially completed the deal on Friday, October 28. It was the end of six months-long negotiations. The potential for Dogecoin’s integration with Twitter has boosted its value. Musk had previously suggested that DOGE be used to manage Twitter spambots and users would have to pay for their tweets.Source: DOGEUSD price chart via

Dogecoin’s price is currently trading at $0.1159. | Source: DOGEUSD price chart from

Cardano plans to integrate Dogecoin on Twitter as a sidechain

Charles Hoskinson intends to incorporate ADA and the famous meme token Dogecoin into Elon Musk’s Twitter. Cardano’s creator is confident that DOGE will be integrated into the platform, which Musk repeatedly mentioned. This confidence stems from Musk’s recent completion of his $44 billion buyout of Twitter.

As Elon Musk becomes Twitter’s new “Chief Twit,” the microblogging platform is about to undergo significant changes. This is a good time for Dogecoin and other cryptocurrencies.

Charles Hoskinson, CEO of IOG (previously IOHK), is the founder believes there is “a serious potential” that DOGE would “somehow integrate” with Twitter. Hoskinson, when asked about his belief that Dogecoin would integrate with Twitter using a PoS and PoUW consensus systems before adopting them. Instead, he proposedMaking the cryptocurrency with a dog theme a Cardano sidechain. Cardano Developer has indicated his willingness to transfer the network for free and implement smart contracts.

Featured image taken from Pixabay. Chart from

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