Number of dogecoin holders rises sharply, despite DOGE price

The number of people owning meme-cryptocurrency dogecoin (DOGE) has risen sharply over the past three months. Dates from CoinMarketCap shows that the total number holders amounted to 4,379,183 on July 26. At the present time, almost three months later, the number of people holding Dogecoin has risen to 4,456,459. This is an increase of almost 2% in total.

Dogecoin price is not rising

The increase in the number of holders has not yet been reflected in the current price of dogecoin. The price of dogecoin has fallen about 16% in three months. However, due to the increase in the number of holders, it seems that investors are anticipating a rise in the price.

Elon Musk and Twitter

On April 14, it was first announced that Elon Musk, CEO of Tesla and SpaceX, among others, wanted to buy Twitter. However, he withdrew from this deal on July 6. The reason for this was that, according to Elon Musk, the social media company had lied about the number of active bots on the platform. However, you could recently read in the altcoin news that Elon Musk would still take over social media platform Twitter. This deal involves a total amount of $44 billion.

The fact that Elon Musk is a proponent of crypto is well known by now. It is also no secret that he is a huge fan of dogecoin. When it first came out that he wanted to take over Twitter, the price immediately rose by 12%. The graph showing the number of dogecoin holders clearly shows that this number increased significantly in October. This most likely has everything to do with the official takeover of Twitter by Elon Musk. When Elon Musk had his first meeting with Twitter, it became clear that he would like to discover a way for users to make cryptocurrency payments via the platform.

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