Crypto: Dogecoin builds on gains after more than doubling in October

November 1, 2022

The price of popular meme coin Dogecoin rose sharply Tuesday, building on a gain that saw it more than double in value in October, following Elon Musk’s acquisition of Twitter for $44 billion.

The Shiba Inu-themed
DOGEUSD,
-0.73%
coin $0.14, up 9.63%, according to CoinDesk data.

Musk’s acquisition of Twitter
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of the cryptocurrency.

Earlier this year, Musk’s SpaceX began accepting it for selected merchandise, and electric vehicle maker Tesla Inc.
TSLA,
+0.12%
had made a similar move in January. Binance CEO Changpeng Zhao said earlier this week that cryptocurrency could be used to charge select Twitter users for the service. Binance put $500 million into Musk’s acquisition.

Dogecoin has led the pack of cryptocurrencies, gaining 17 times more than bitcoin. Bitcoin
BTCUSD,
-0.02%
traded at $20,437.63, a change of 0.23% over the past 24 hours, according to CoinDesk data.

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