As billionaire Elon Musk's acquisition of Twitter neared completion, the well-known meme coin dogecoin (DOGE) saw a gain of over 16% over the previous day.
The $44 million agreement involving the Tesla founder is anticipated to finalize on Friday.
DOGE, which has grown to serve as a stand-in for opinion on Musk, has received significant support from Musk. The token's price has continually been affected by the entrepreneur's comments about it.
The most recent trade price for DOGE was just over 7 cents. For the majority of the previous six weeks, it had been stuck below 6 cents. DOGE was trading at 25 cents a year ago.