DOGE rebounded from a one-month low on Monday on reports that Twitter could accept an offer from Elon Musk as early as Monday.
Memecoin, the largest by market capitalization, jumped 10% from its intraday low in minutes as multiple reports said the social media company was close to accepting Musk's $43 billion offer.
DOGE, who tends to react positively to any news from the Tesla CEO, recently revealed that he holds the token. But musk's acquisition of Twitter could be particularly good for Bitcoin, given that the world's richest man has expressed interest in adding DOGE to the platform.
DOGE jumped 10% in a matter of minutes
Dogs on Twitter?
After buying a 9.2% stake in Twitter earlier this month, Mr Musk began toying with the idea of introducing a monthly subscription service to the site. Musk suggested the option of paying for services at DOGE.
Musk also proposed a feature that would allow Twitter users to be tipped in DOGE. The social media site currently allows users to tip in Ethereum.
Telsa's CEO is a fan of DOGE and has demonstrated the token at multiple Tesla roadshows and events. Musk's interest in Memecoin, particularly through his tweets, has also helped it become the 11th largest cryptocurrency by market capitalization.
Musk has big plans for Twitter
Musk has come up with big plans for Twitter, not just to add support for DOGE. Tesla's CEO wants to take the company private and turn it into a global platform for free speech.