dogecoin (DOGE) shot up by more than 6% after Twitter announced a partnership with social trading platform eToro, according to CryptoSlate data.
The partnership will allow users to buy stocks and cryptocurrencies on eToro directly from the Twitter app. CryptoSlate reported.
eToro confirmed development, saying its $Cashtags partnership will allow Twitter users to get real-time data and charts on these assets.
Following the news, Elon Musk’s favorite cryptocurrency Dogecoin rose as much as $0.0877, according to CryptoSlate data.
The meme coin has since regressed to $0.08686 at the time of writing.
Various DOGE enthusiasts interpreted Twitter’s move as Elon Musk’s latest effort to integrate the meme coin into the social media platform.
Meanwhile, this isn’t the first time that Twitter’s actions and announcements have weighed heavily on DOGE’s performance since Musk bought the platform in October 2022.
The token hit $0.14 in November 2022, based on Musk’s plan expectations for the asset.
Its value also significantly spiked after the social media platform changed its logo to the Shiba Inu dog. At that time, DOGE rallied by more than 30%, but soon it crashed after Twitter restored its original logo.
The charge Dogecoin Surges 6% Following New Twitter Move first appeared in CryptoSlate.
