After Elon Musk's acquisition of Twitter, expectations for Dogecoin increased, but investors partially moved away from these expectations in the 2022 bear market.
With the greening of cryptocurrencies in 2023, Elon Musk re-entered the scene and today replaced Twitter's logo with Dogecoin.
After the move from Twitter, the DOGE price rose 34% to reach the $0.10 level again and partially retreated.
Elon Musk signaled this before he bought Twitter. In the process of acquiring Twitter, "do you need a new platform?" The chairman of the WallStreetBets group, Twitter user “The Chairman”, gave the following answer to the famous CEO who asked a question as follows.
"Just buy Twitter and change the bird logo to Doge."
Musk responded to this suggestion by saying, "Haha, that would be so disgusting."
Will April 20 be on the agenda again?
Behind the rally in Dogecoin in 2021 was the group called WallStreetBets, which was organized on Reddit and known for its Gamestop events, as well as Elon Musk. This group declared April 20 as "Dogeday" in 2021 and said "this will be the best day of the year"
In this process, Dogecoin, which rose until April 20, experienced a 60% decrease in 4 days after April 20.
After the Twitter logo was changed, the eyes were turned to April 20. If a "Dogeday" trend starts again this year, we can see a good performance from Dogecoin in the process that will continue until April 20.
*Not a recommendation.