Dogecoin soars 26% as Elon Musk clinches Twitter purchase, raising hopes for the meme coin's use as a payment method on the platform

• Dogecoin jumped 26% Monday after Twitter announced it is accepting Elon Musk's $44 billion buyout offer.
• Musk's tweets have been a significant influence on dogecoin's price movements in recent years.

Dogecoin jumped 26% on Monday after $4 Elon Musk's $44 billion buyout offer.

Musk has been a big booster of the meme-based cryptocurrency, often pushing its price higher with just a tweet, and some $4 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, $4. Musk also $4 that he was working with dogecoin's team to improve system efficiency.

Dogecoin shot up to $0.1673 Monday, up 26%, to extend its gain after rallying 9% earlier in the day.

When the Tesla CEO announced in January that the electric vehicle maker would accept some $4 in dogecoin, the token spiked about 10%.