Dogecoin has soared in price after Musk bought Twitter.

The price of the Dogecoin (DOGE-USD) cryptocurrency jumped more than 100% in the last week following the news of the purchase of the social network Twitter by Elon Musk, who is a supporter of digital assets. Dogecoin’s price began to actively grow on the night of October 27 after Elon Musk closed the transaction for the purchase of Twitter for $44B. Previously, Musk has confessed his love for Dogecoin, so investors saw new prospects for the cryptocurrency after he acquired the social network. One way to promote Dogecoin could be to accept the cryptocurrency to pay for a subscription to the premium service Twitter Blue. Earlier this year, one of Elon Musk’s companies, Tesla, started accepting payments in Dogecoin.