Elon Musk finalized his Twitter purchase last week, and Dogecoin investors have reason to rejoice.
Musk has been a long-time fan of the dog-themed crypto. Despite its origins as a meme coin, Dogecoin has become a major crypto. Tesla began accepting Dogecoin in early 2022 and Musk’s other company, SpaceX, even accepted Dogecoin for a satellite mission to Mars.
According to Reuters, Dogecoin is seeing a major boost following the Twitter deal, jumping as much as 70% on Saturday.
Only time will tell if the crypto will keep its gains, but having one of its biggest proponents in charge of one of the world’s biggest social media platforms is sure to help.