According to reports and trending conversations on Twitter, billionaire entrepreneur Elon Musk has <a href="https://www.cryptoknowmics.com/news/elon-musk-buys-twitter-for-44-billion/">purchased</a> the social media company for $44 billion, as Musk met with the company's board of directors on Sunday, and discussions continued into the early hours of Monday.

Twitter Inc. was approached last week Thursday by the Dogecoin influencer Elon Musk, who made a cash <a href="https://www.cryptoknowmics.com/news/elon-musk-makes-his-best-and-final-offer-to-buy-all-of-twitter/">buyout offer</a> of $43 billion in an effort to take the company private and foster free speech on one of the world's most influential social media platforms.
<h2>Dogecoin Reacts to the News</h2>
Elon Musk has been a vocal advocate of Dogecoin in the past, tweeting many times in support of the meme-based cryptocurrency.

As expected, Dogecoin's market price jumped more than 20% today as a result of the announcement. This price increase might be attributed to the expectation of Musk's continued advocacy of the cryptocurrency on the social media outlet. 

This isn't the first time Dogecoin has moved in response to Musk's statements and actions. After earning support from Musk on Twitter last year, it saw numerous increases in value and reached a peak of $0.7376 in May.

At the time of writing, Doge is trading at $0.16400, representing a more than 20 percent increase over the previous day's all-time high of $0.13480. Nonetheless, it has fallen by more than 80% from its all-time high in May of last year.

Dogecoin Surges More Than 20 Percent In Response To Elon Musk's Acquisition Of Twitter

Dogecoin price jumped more than 20% today as a result of the announcement of Tesla owner Elon Musk purchasing Twitter for $44 billion.

Kay is a content specialist who has a particular interest in the finance and cryptocurrency industries, among others. He is a frequent contributor to a number of finance and cryptocurrency-related websites, where he offers readers with informative and educational articles on the cryptocurrency and financial markets. Aside from that, he is an avid supporter of blockchain technology.

Dogecoin Surges More Than 20 Percent In Response To Elon Musk's Acquisition Of Twitter

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