Cryptocurrency influencer and founder of Gokhshtein Media, David Gokhshtein, commented on the sudden price spike of dogecoin after Elon Musk surprised Twitter by replacing the Twitter bluebird logo with that of dogecoin.
Gokhshtein’s tweets responded to Musk’s decision to replace the Twitter logo with that of doge.
The cryptocurrency businessman was overjoyed after the first meme coin successfully printed a massive green candle and experienced a rise of approximately 30% in just one hour. This occurred shortly after it appeared that Elon Musk, the new CEO of Twitter, integrated dogecoin into the social media platform.
On Twitter, the emblem of the well-known bluebird has been replaced with the DOGE logo, as reported by crypto.news. Gokhshtein indicated that he would only be paying in DOGE, even though he expected Musk to include the meme currency as an option for performing micropayments and tipping on Twitter (and will “embrace the memes”).
He tweeted that the social media network that Musk had purchased for $44 billion in October last year had more than 400 million subscribers. If just twenty percent of Twitter users started using DOGE for transactions, it would already be considered “a success for the industry.”
Also, Gokhshtein brought to the attention of the cryptocurrency community the fact that dogecoin was the coin that initiated the two prior bull runs on the market. He is well-recognized for being an advocate of meme currencies.
Gokhshtein has mentioned that he has significant amounts of DOGE and Shiba Inu in several of his tweets.
Whales and DOGE
The price of the meme coin skyrocketed as it became public knowledge that the dogecoin avatar would replace the Twitter logo.
As a result of the price increase, whales quickly moved to cash in on their gains by selling their DOGE. In particular, the crypto tracker Whale Alert discovered two mega-transactions that included hundreds of millions of DOGE and were most likely sales.
The first was the transfer of 650 million DOGE, equivalent to around $65.5 million; this transaction was carried out by the fifth giant dogecoin whale, according to the “Smart Money” tracker on Lookonchain. The second transaction included 300,000,000 dogecoin, which had an estimated value of $27,687,117.
At the time of this writing, one dogecoin can be purchased on the Binance market for $0.1014.