Dogecoin Price Increases By 11% When Elon Musk’s Twitter Deal Closes

The price of Dogecoin has increased 11% over the past day to $0.069. Tesla CEO Elon Musk reportedly pledged to complete the acquisition of Twitter by Friday in a video conference call with bankers who are assisting in financing the deal.

Recent developments would suggest that Musk was about to execute the acquisition prior to the Oct. 28 court-imposed deadline.

Despite probable concerns from Washington on the support of foreign investors, Changpeng Zhao, the CEO of Binance, has announced that he wants to support Elon Musk’s proposed $44 billion acquisition of Twitter Inc.

When asked if Changpeng Zhao would uphold his financial deal with Musk, he answered, “I suppose so.” Binance announced in May that it has pledged $500 million to Musk’s proposed acquisition of Twitter as part of its strategy to usher in the Web3 era and social media and news websites.

Dogecoin discusses a positive upgrade

DOGE is set to be in the public eye if the Twitter deal is successful, as Elon Musk floated the idea of using it as a form of payment on social media.

Musk, a DOGE proponent, cheered DOGE’s most recent core update by tweeting “upgrades.” According to DOGE developer Shafil Alam.

“Adding TorV3 support remains an important protocol upgrade for DOGE.”

Explaining what the upgrade entails, DOGE-focused Twitter account Mishaboar, wrote:

“The devs are picking code from old Bitcoin Core commits, integrating it within Dogecoin Core-experienced Bitcoin developers could certainly provide help. TorV3 allows privacy and anonymity to node operators and increases network resilience against targeted node attacks.”

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