Many Dogecoin supporters saw Twitter’s action as Elon Musk’s most recent attempt to incorporate the meme coin.
Dogecoin (DOGE) spiked by more than 6% after Twitter announced a partnership with the social trading platform eToro, according to CryptoSlate’s data.
The partnership will allow users to buy stocks and cryptocurrencies on eToro directly from the Twitter app, CryptoSlate reported.
eToro confirmed the development, saying its $Twitter users will be able to access real-time data and charts about these assets thanks to the Cashtags partnership.
According to data from CryptoSlate, Elon Musk’s preferred cryptocurrency Dogecoin rose after the news, reaching a high of $0.0877.
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Since then, the meme coin has fallen to $0.08686 as of this writing.
The action by Twitter was seen by some DOGE supporters as Elon Musk’s most recent attempt to incorporate the meme coin into the social media platform.
Since Musk acquired Twitter in October 2022, DOGE’s performance has frequently been significantly impacted by its statements and actions.
As a result of anticipation surrounding Musk’s strategy for the asset, the token rose as high as $0.14 in November 2022.
After the social media platform switched to the Shiba Inu dog as its new logo, its value also significantly increased. When Twitter restored its original logo, DOGE gained by more than 30% at the time but quickly fell.