Dogecoin soared nearly 30 percent after Tesla boss Elon Musk announced the major move.
The world’s largest memecoin is now priced at 14 cents.
Dogecoin, which features a Shiba Inu dog as its symbol, is still down almost 80 per cent from its all-time high this time last year.
On Monday, Twitter announced that it has reached a “definitive agreement to be bought by Elon Musk for $54 dollars and 20 cents per share in cash”
Musk has not been shy about his love for Dogecoin and its possible use as a medium of exchange within the Twitter ecosystem.
There’s speculation advertisers could pay for ads on Twitter using dogecoin.
The dogecoin price has creeped back into CoinMarketCap’s top ten since the latest twitter developments.
