Dogecoin returns to top 10 as Twitter accepts Elon Musk buyout deal


Alex Dovbnya

Elon Musk has reached a deal to take over Twitter, which is causing the price of Dogecoin to rise

Dogecoin (DOGE), the original meme cryptocurrency, once returned to the CoinMaketCap top 10. It is currently valued at around $22 billion.

Image by coinmarketcap.com

Twitter has accepted centillionaire Elon Musk’s offer to acquire the social media giant for about $44 billion, according to an official press release.

The price of meme cryptocurrency soared to an intraday high of $0.1711 shortly after the announcement.

The company’s shareholders will receive $54.20 per share, a premium of a whopping 38%. The Tesla boss claimed it was a “final” offer.

It is not clear when the transaction will close as the massive deal requires regulatory approval.

In his statement, Musk claims Twitter has “huge” potential, while promising to add new features and remove spam boats.

Earlier today, Digital Currency Group CEO Barry Silbert implied that he was interested in buying the token despite publicly declining it in the past.

Rival Shiba Inu is also up four percent, riding Dogecoin’s coattails. Musk has repeatedly confirmed that he has no SHIB tokens.

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