In the past 24 hours, the trading price of Dogecoin (DOGE) has experienced a 4% dip. It happened after the reports started to come in about the Twitter account of Donald Trump being put back on.
No matter how much people protest despise Donald Trump or talk bad about him, the fact is that he was the 45th President of the United States.
Donald Trump was among the highly influential people in the entire world who were very active on Twitter and other social media channels.
However, the former president was impeached, which also led to his Twitter account being banned permanently. It appears that Elon Musk had different plans as he has reportedly reinstated his account.
Performance of Dogecoin
Just as more and more people started to realize Trump’s account had been reinstated, the word spread like a wildfire. As Elon Musk is a DOGE proponent, the people soon blew their anger on the meme coin.
It can be seen that in a 24-hour window, the trading price of the meme coin plummeted by 4%. Despite being down in the past 24 hours, the past 7-day gains of DOGE still stand at 23%.
A look at the past 30-days is also promising as it shows that DOGE’s price rose by 14%
It was Expected
Even before Elon Musk had acquired Twitter, he had mentioned that he would not ban any users from Twitter, he it was to be under his control.
He added that everyone had the freedom of expressing their thoughts and make them known to the entire world.
Therefore, as Twitter was bought by Musk, people know that Trump’s account reinstating was the next thing to happen.
Musk made More Promises
However, what the followers of Elon Musk and the DOGE community want to see from the richest man in the world is when he fulfills his other promises.
In the past, Elon Musk had promised that he would add Dogecoin as a payment method if he were to acquire Twitter. Now, the community wants to know if he is going to realize his other promises or not.
If that happens, then something really big will happen to Dogecoin. Just the mere idea presented by Elon Musk back in April 2022 had the entire DOGE community flying high.
IF Twitter does adopt DOGE as a payment method, it could be a game-changer for the meme coin.
DOGE Price to Hit All-Time Highs
Twitter is a major social media platform, which Elon Musk wants to turn into a payment platform that rivals PayPal and other payment services platforms.
If that happens, then the trading price of DOGE may experience the largest rally ever. In such a scenario, the value of the DOGE may cross the $0.80 mark, which would be an all-time high for the meme coin.