Elon Musk, the owner of a number of tech firms, including globally renowned firms like SpaceX and Tesla. Elon is a huge supporter of Dogecoin, Ethereum, and Bitcoin.
Giant social networking site Twitter filed a lawsuit against Tesla’s CEO on July 12. Elon Musk allegedly broke the conditions of a merger agreement that was signed by both Twitter Inc. and Elon Musk, according to the case that Twitter has filed.
Elon has only disregarded Twitter and the acquisition agreement since the merger agreement. This legal action was taken by Twitter shortly after Elon decided to cancel the agreement.
Elon reportedly made the decision to walk out of the Twitter acquisition agreement because Twitter refused to share details about spam bots.
Most international celebrities previously backed Elon Musk when he offered his idea to acquire Twitter, and they attempted to pressure Twitter into accepting his purchase offer. Following that, Twitter approved the agreement in the final week of April 2022.
Dogecoin gained a lot of interest and traction in the crypto and non-crypto industries as a result of the revelation of Elon’s plan to buy Twitter.
Nearly every single news item began with a rumor that Elon will add a dogecoin payment option to the Twitter network. These factors dramatically increased dogecoin’s value.
However, right now, the odds are stacked against Dogecoin because Elon is unwilling to purchase Twitter, while Twitter has also taken legal action against Elon Musk. The price of $Doge is currently $0.01647, which is 8.93% less expensive than it was 24 hours ago.
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