TWTR - Let That Sink In -- Dogecoin Soars as Twitter Deal Seemingly Set to Close
As the cryptocurrency market settles down from yesterday's rally, most investors are seeing relatively flat, or slightly negative, performance in their portfolios today. That said, one standout token continues to break out: Dogecoin (CRYPTO: DOGE) has surged 14.1% over the past 24 hours, as of noon ET.
This impressive move follows Elon Musk's surprise arrival at Twitter (NYSE: TWTR) headquarters yesterday. Carrying a kitchen sink and subsequently prompting employees and investors to "let that sink in," Musk appears to be taking a lighthearted approach to finalizing his deal to buy Twitter at $54.20 a share. Shares of TWTR stock are currently trading just shy of $54 per share, signaling this deal has a high likelihood of completing by Friday's deadline.
For Dogecoin investors, questions of whether Musk would ultimately follow through on his pledge to buy Twitter at the aforementioned price of $54.20 provided a great deal of volatility to both Twitter and Dogecoin, with the latter being viewed as a beneficiary of Musk controlling Twitter.
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"Let That Sink In" -- Dogecoin Soars as Twitter Deal Seemingly Set to Close