Why Dogecoin price increased last week

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Due to persistent reports that Dogecoin would be added to Twitter, its price soared by 25.82% the week of November 21. Fans of DOGE are still holding out hope that the company will be involved in Elon Musk's plans for Twitter. Since hitting a two-week low of $0.079, the price of DOGE has grown by 28.98%; at the time of writing, it is trading at $0.1019 on MEXC Global. Let me now go into greater detail about what happened.
Dogecoin (Source: meme-arsenal)

DOGE is the eighth-largest cryptocurrency in terms of market value. It shot past $0.1 on Tuesday night and has remained there ever since. There are also rumors that Elon Musk may incorporate Dogecoin into his plans for Twitter 2.0. Prices increased when Elon Musk revealed his plans for Twitter in a slide deck. One of the slides has the payment component.

However, the PowerPoint didn't provide any information in-depth regarding Dogecoin or Musk's expectations for it. Along with Dogecoin, HT, the Huobi exchange's token, also saw growth. The next week, with the announcement of a strategic partnership with Poloniex, the price of the HT token soared by 53.04%.

There have been reports that Twitter will take DOGE as payment ever since the Twitter contract was first announced. Elon Musk made a reference to the prospective inclusion of Dogecoin in Twitter's payment system. Not to mention the fact that he often has crazy thoughts. The market seems to react and prices shift each time Musk discusses his ideas with the public. We're still unsure if he was being sincere. Always exercise caution when trading and do your own research.

Final Reflections

I believe that trading memecoins like Dogecoin is risky. Not just because it doesn't have many practical applications,