Dogecoin hit its highest level in seven months as the deadline for DOGE proponent Elon Musk’s Twitter deal approaches. Data from CoinWarz showed that the global hash rate of the blockchain has reached a value of around 815 TeraHashes per second [TH/s].
The time for the deal’s completion is drawing near, according to a recent report from Bloomberg, even though it has been noted that the social media giant is taking steps to get ready for the sale.
Elon Musk recently claimed to have a plan to get rid of them in response to a tweet by American internet personality and Bitcoin investor Dave Portnoy.
“Hey Elon Musk, can you please fix these bots on this piece of sh– the platform you got tricked into buying,” Portnoy tweeted. “I’m getting bot’d to death.”
To which Musk replied, “I have a plan.”
Back in April, the SpaceX CEO announced buying Twitter which he later backtracked alleging that the latter was withholding information about the number of bot accounts present on its platform.
According to the business magnate, more than 20% of Twitter accounts are bots. The microblogging site, however, placed this number under 5%. After the billionaire called off the agreement in July, Twitter filed a lawsuit to force the sale.
As of now, the agreement has been reinstated in exchange for Twitter dropping the lawsuit. Notably, the court has given the billionaire until October 28 to raise the $44 billion agreed upon, so he has just over ten days to complete the transaction.
It is believed that Musk will take action to integrate DOGE on Twitter after making the Twitter acquisition.
Dogecoin In Musk’s “Burnt Hair”
On the price front, Dogecoin is currently trading at roughly $0.059, rising marginally over the last 24 hours at the time of writing, according to CoinMarketCap data. The 10th-ranked coin has a market cap of $7 billion
The multibillionaire CEO, who already accepts the meme coin as payment at his firms Tesla and Boring Company, has frequently reaffirmed his commitment to supporting DOGE.
Musk who also runs the Boring Company announced on 18 Oct. that it would accept Dogecoin payments for its “Burnt Hair” cologne, as reported by TronWeekly.