Amid news that Twitter (TWTR) will most likely accept Elon Musk's $43 billion offer, one group having a frenzy of preliminary celebrations are Dogecoin fans.
Launched as a "joke" over cryptocurrency speculation (its logo is literally the dog from the viral meme) in 2013, Dogecoin started gathering its own community and truly took off after Musk signed on as an early supporter.
He previously called dogecoin his favorite cryptocurrency and bought some for his newborn son last year.
Dogecoin Fans Are Having A Field Day
So naturally, news of rapidly-advancing takeover talks between the Tesla (TSLA) founder and Twitter did not go unnoticed by Dogecoin fans and traders despite the only correlation being Musk's established sympathy for the cryptocurrency.
"You will see soon #DogecoinToTheMoon," wrote user Juan Calvino.
The #DogecoinToTheMoon hashtag trended among memes and posts of Twitter with the Doge logo. Dogecoin's value often moves in tandem with Musk's actions and tweets; while down from the 75-cent high seen last May, the cryptocurrency's value still surged over by 6% to $0.14 after news of the looming Twitter takeover broke.
"Elon Musk Buying Twitter WILL BE AMAZING FOR #DOGECOIN!!!" Matt Wallace, a cryptocurrency YouTuber with nearly 600,000 followers on Twitter, wrote.
Musk's spontaneous nature (the takeover offer itself came seemingly out of nowhere) makes it difficult to foresee what, if any, crypto-currency related changes will take place at Twitter after Musk's purchase. That, however, did not stop Dogecoin fans from throwing out their own ideas -- from it becoming possible to pay in cryptocurrency to new logos or Doges on every interface.
As Tesla already accepts payments for its merchandise (but not the cars themselves) in Dogecoin, the former is a not at all an unlikely possibility.
"We have seen the same happening when Tesla revealed the ability to pay for its goods with DOGE," Kryptomon Chief Marketing Officer Tomer Nuni recently told CoinDesk. "So the speculation could be around Musk's businesses and stakeholdings starting to accept crypto, as Tesla does."
Will All Of Twitter Become Doge (As Some Fans May Want)?
Notoriously loud on social media, Dogecoin fans often exaggerate the cryptocurrency's value on social media. But Musk's support is what has primarily kept it as one of the world's most popular cryptocurrencies. On April 24, co-creator Billy Markus tweeted suggestions on how it can grow in value and Musk weighed in.
"First one definitely," Musk wrote in reference to the suggestion that more businesses start to accept Dogecoin as currency.
Many have previously criticized Musk for jokingly tweeting about cryptocurrencies without realizing that it can send millions of would-be investors in the wrong direction.
"Tweets that hurt other people' finances are not funny, and irresponsible," Binance CEO Changpeng "CZ" Zhao tweeted last June.
But as much of the Dogecoin craze is driven by people who purport not to take cryptocurrency too seriously, the renewed frenzy reflects a larger pattern of Dogecoin's volatility — and popularity in anti-establishment circles.
The Fans Won't Let This One Go
"Jeff Bezos bought the Washington Post for $250 million," @dogeofficialceo wrote. "Elon Musk is buying Twitter for $43b. I'm buying #dogecoin for 14 cents. We are not the same…"
"#Dogecoin to Mars!" writes Twitter user @pythadoge. Tagging Elon Musk makes it not so much of a prediction as much a request.
