Dogecoin Surges On Twitter's X.com Rebranding, Bitcoin (BTC) Dips

Bitcoin fell to $29,000 early this week while Dogecoin surged by 2.4% in the last 24 hours. One of the most important news events that could have affected the market is the recent rebranding of Twitter to X.com. Dogecoin (DOGE) supporters are looking very closely at what Elon Musk is doing with the social media network.

Dogecoin Surges on Twitter’s X.com Rebranding, Bitcoin (BTC) Dips

According to CoinGecko, Bitcoin has registered 2.9% losses in the last 24 hours. Most virtual currencies are currently operating in the red, with the largest losses being experienced by Solana (SOL) (-6.9%), followed by XRP (-6.1%) and Cardano (ADA) (-4.2%).

Dogecoin is the only virtual currency among the top ten that is registering gains. In the last 24 hours, this digital asset moved higher by 3.1% as Twitter rebranded to X.com. Dogecoin has many times been affected by what Elon Musk, the CEO of Tesla, did.

Our headquarters tonight pic.twitter.com/GO6yY8R7fO

— Elon Musk (@elonmusk) July 24, 2023

At the moment, there is no clear information on where the market will move during the whole week. However, there are some things that investors should take into consideration. One of them is related to the Litecoin (LTC) halving event that is getting closer.

Furthermore, following Twitter’s rebranding, comments from Elon Musk could definitely change the trajectory of coins such as Dogecoin (DOGE) or Shiba Inu (SHIB).