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Bitcoin Reclaims $40K, Dogecoin Soars 33% On Musk-Twitter News
After marking a multi-week low at $38,000, bitcoin went on the offensive and reclaimed $40,000. The altcoins are also well in the green today, with Dogecoin stealing the show following a 33% surge after the Elon Musk-Twitter news. Bitcoin Reclaims $40K The bears held almost total control of the market over the past few days.…
After marking a multi-week low at $38,000, bitcoin went on the offensive and reclaimed $40,000. The altcoins are also well in the green today, with Dogecoin stealing the show following a 33% surge after the Elon Musk-Twitter news.
Bitcoin Reclaims $40K
The bears held almost total control of the market over the past few days. It all started on April 21 when the asset was rejected at $43,000 after a few days of price increases.
In a matter of hours, the cryptocurrency dumped to $40,000 and even below that level on the following day. The situation worsened yesterday when BTC slumped to just over $38,000. This was the lowest price it had been since mid-March.
But, the bulls intervened and reversed the asset’s downward trajectory. Instead of heading further south, BTC started adding value fast and spiked above $40,000, where it’s currently situated. Consequently, bitcoin’s market cap has jumped to about $775 billion.
This came amid positive adoption news that Fidelity will allow investors to add BTC to their 401K accounts.
Dogecoin leads the Alts’ Rally
Although altcoins were just as bad as BTC yesterday’s, the current landscape is more bullish.
Ethereum found itself trading at $2,800 after several days of consecutive price dumps. Now, though, a 7% increase has pushed the second-largest cryptocurrency to just above $3,000.
Binance Coin and Solana were also beneath round-numbered milestones, but BNB now sits above $400, and SOL is north of $100.
Terra is just shy of $100 after an 8% daily increase. Ripple and Polkadot, Avalanche and Shiba Iu all show more gains.
Dogecoin is the best performer here, with a massive 33% surge. This came amid the confirmation that Elon Musk had indeed purchased Twitter, and given his favorable approach towards the first-ever memecoin, the price surge is not that big of a surprise.
Overall, the crypto market cap is up by over $100 billion in a day and sits close to $1.9 trillion.
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Elon Musk, a new member of the Twitter Board, suggests adding the Dogecoin payment option
Elon Tesla, CEO of Tesla and SpaceX purchased a 9.2% share in Twitter and was soon appointed to the board. The billionaire presented several proposals to the social media giant’s paid subscribe plan. One of these propositions involves the implementation of Dogecoin payments. As reported by CryptoPotato earlier this month, Musk filed documents with the…
Elon Tesla, CEO of Tesla and SpaceX purchased a 9.2% share in Twitter and was soon appointed to the board. The billionaire presented several proposals to the social media giant’s paid subscribe plan. One of these propositions involves the implementation of Dogecoin payments.
- As reported by CryptoPotato earlier this month, Musk filed documents with the Securities and Exchange Commission showing that he purchased over 70 million Twitter shares, making him one of the two largest TWTR stockholders.
- Days later, news broke that the billionaire became a board member and suggested “significant improvements” for the platform. Parag Agrawal, CEO of Twitter, welcomed the decision and said Musk would bring “great value to the board.”
- Musk quickly presented several proposals. In a series of tweets, he suggested that the subscription price should be lowered from $3 to $2 per month but paid 12 months upfront under certain conditions.
Price should probably be ~$2/month, but paid 12 months up front & account doesn’t get checkmark for 60 days (watch for CC chargebacks) & suspended with no refund if used for scam/spam
— Elon Musk (@elonmusk) April 10, 2022
- He also desires that the pricing be “proportionately affordable and in the local currency,” and that all subscribers are free from ads.
- Lastly, Musk proposed the addition of Dogecoin as a payment method. He is undoubtedly the most prominent supporter of the first ever memecoin and has been a strong advocate for the asset for many years.
- Aside from being a DOGE investor, Musk has taken every opportunity to praise the cryptocurrency and even one of the companies he runs – Tesla – accepts Dogecoin payments.
- So far, however, the Twitter officials have not responded.
Here’s how much Dogecoin’s co-creator made off DOGE
Was it ever possible to calculate how much the creators and owners of Dogecoin, arguably the most famous memecoin online and one that sparked a huge mania? Well, it turns out that it’s not a life-changing fortune, despite the fact that the project was once worth a whopping $80 billion. A recent Twitter thread revealed…
Was it ever possible to calculate how much the creators and owners of Dogecoin, arguably the most famous memecoin online and one that sparked a huge mania?
Well, it turns out that it’s not a life-changing fortune, despite the fact that the project was once worth a whopping $80 billion. A recent Twitter thread revealed that Billy Markus, who is currently active under the Shibetoshi Nakamoto handle said that he didn’t make that much.
The Dogecoin Cofounder Unhappy With Online Scammers
Dogecoin is still the most popular of all meme coins and continues to be a favorite among retail investors. Billy Markus, who has over 1.2 million Twitter followers, lashed out at the online scammers’ excessive harassment and insults.
people call me salty
Of course, i’m salty! i made like 3 grand total directly from making a crypto that had a market cap of 80 billion dollars
Watching scammers and shady stuff make millions all day + strangers attacking my all day, who wouldn’t be salty
— Shibetoshi Nakamoto (@BillyM2k) March 31, 2022
Markus admitted that he felt “salty” about only making $3K from Dogecoin creation. He also expressed his anger at the scammers and harassers who were receiving ridiculous rewards for failing products.
When challenged that the code he wrote for Dogecoin was only worth around $3,000, Markus disagreed and added:
“Considering all the actual hours total I put into it (beyond the initial creation) it’s probably less than minimum wage.”
In 2015, the other co-founder, Jackson Palmer, decided to depart from the project as he saw cryptocurrency as an exploitative means that enriched its top proponents. Markus also conceded to the project and left it later.
In response to a Twitter user’s comment on Thursday, Markus also agreed that “dogecoin would have failed if Jackson and I were greedy, 100%.” Meanwhile, he wrote he wished he had not sold all the coins back in 2015.
Markus Bashed and Other Meme Coins
Markus criticized the meme coin creators for making “ridiculous claims” to lure investors into their scheme. In particular, he has a problem with Shiba Inu, the meme coin that rose in popularity along with Dogecoin in 2021.
He slammed Shiba Inus’s new Metaverse project as making “random metaverse” and “selling fake land” with Ethereum and stated that he would be annoyed by the project if he had been a SHIB holder.
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