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Investors are raising concerns about Elon Musk\u2019s acquisition of Twitter. After soaring to a multi-week high price, the Dogecoin has crashed by 20% and is trading at $0.1381 with a total market cap of around $18 billion.<\/span><\/p>\n In an announcement on Monday, Twitter agreed to be acquired by Tesla and SpaceX CEO Elon Musk for $54 per share. This would give the company a value of more than $44 billion.<\/span><\/p>\n Related Reading | Dogecoin (DOGE) Struggles, Drops 9% After Elon Musk Twitter Buyout<\/a><\/strong><\/em><\/p>\n Many people thought that Musk buying Twitter would help boost Dogecoin\u2019s momentum. For 24 hours, it seemed as though they were right until the excitement and interest quickly dissipated from all sides.<\/span><\/p>\n Traders lost $281 million worth of \u201clongs\u201d to liquidation in the past 24 hours. Overall the total liquidation amount reached $350 million<\/a>. This is the third-largest level in the month of April. Of that amount, about one-third ($128 million) came from bitcoin-tracked futures. While $92 million arose from ether futures. Futures tracking dogecoin lost $24 million, similar to Tuesday\u2019s loss.<\/span><\/p>\n Some Twitter shareholders are concerned that the acquisition may not go through. For instance, their price per share is trading at $49, lower than offered ($54). In addition, the company currently has a market value of about $37 billion \u2013 $6 billion less than when this deal first began.<\/span><\/p>\n The acquisition of Twitter by Tesla may have unforeseen consequences for the company, particularly its impact on Elon Musk. Many believe he will exit this deal by paying a $1 billion breakup fee.\u00a0<\/span><\/p>\n China is the biggest market for Tesla, and the company has a large plant over there. So there\u2019s a chance that if Musk tweets something unfavorable about China, the country can punish him. China has strict laws against free speech, and anyone who breaks them risks being penalized by law enforcement.<\/span><\/p>\n The fear that Musk will not buy Twitter has caused the Dogecoin price to crash. However, it\u2019s believed most investors think if this acquisition closes, it\u2019ll be good news for DOGE because he vows to add them as a payment option.\u00a0<\/span><\/p>\nDoubts On Musk\u2019s Twitter Acquisition<\/h2>\n