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Dogecoin (DOGE) surged by over 6% after Twitter revealed a collaboration with the social trading platform eToro, as reported by CryptoSlate.
This partnership will enable users to purchase stocks and cryptocurrencies on eToro directly through the Twitter application, according to CryptoSlate.
eToro verified the news, stating that its $Cashtags partnership will provide Twitter users with real-time information and charts regarding these assets.
In the wake of this announcement, Elon Musk’s preferred cryptocurrency Dogecoin climbed to a peak of $0.0877, based on CryptoSlate’s data.
Source: Tradingview
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Since then, the meme coin has pulled back to $0.08686 at the time of this writing.
Numerous DOGE supporters viewed Twitter’s initiative as Elon Musk’s latest attempt to incorporate the meme coin into the social media platform.
Additionally, this is not the first instance where Twitter’s actions and announcements have significantly impacted DOGE’s performance since Musk acquired the platform in October 2022.
The token reached a high of $0.14 in November 2022, fueled by anticipation of Musk’s plans for the asset.
Its value also experienced a notable increase after the social media platform altered its logo to feature the Shiba Inu dog. At that time, DOGE surged by over 30% but subsequently fell after Twitter reverted to its original logo.
The post Dogecoin spikes 6% following Twitter’s new move appeared first on CryptoSlate.
