Dogecoin jumped as much as 9% on Monday following reports that Elon Musk is close to reaching a deal to acquire Twitter.
Musk has been a big booster of the meme-based cryptocurrency, often pushing its price higher with just a tweet, and some speculate that his Twitter takeover will include plans to integrate dogecoin to the platform in some way.
Musk had earlier teased at a dogecoin-Twitter integration in a tweet he posted that suggested paying for Twitter Blue, the platform’s subscription service, using the crypto. Musk also tweeted that he was working with dogecoin’s team to improve system efficiency.
When the Tesla CEO announced in January that the electric vehicle maker would accept some merchandise payments in dogecoin, the token spiked about 10%.
Meanwhile, according to multiple reports, Twitter reps and Musk met Sunday to discuss the takeover deal, and an agreement could be reached as soon as Monday, the Wall Street Journal said.
Dogecoin hovered around $0.14 early Monday.
