DOGE’s price rallied on Oct. 26 when billionaire entrepreneur Elon Musk changed his Twitter bio to Chief of Twit the same day he visited Twitter’s San Francisco-based headquarters before officially closing the deal as the new owner.
In the past seven days, DOGE’s price has surged 98.5% to $0.119. This means that as much as 62% of DOGE holders are Making Money at Current Price according to data from blockchain intelligence platform IntoTheBlock which even beats out Bitcoin and Ethereum hodlers at 54% and 57% respectively.
The events have also triggered DOGE’s market cap to surpass smart contract platforms Cardano and Solana into becoming the 8th largest cryptocurrency in the world with a $16.3 billion market cap.
The link between Musk’s Twitter purchase and DOGE’s massive price surge should come as no surprise as many Dogecoin investors have high hopes for Musk nicknamed The Dogefather to integrate Dogecoin onto Twitter in some shape or form.
