Doge Surges After Memecoin Advocate Musk Agrees to Buy Twitter

Dogecoin, the cryptocurrency with a Shiba Inu meme that has long been a favorite of Elon Musk, surged almost 30% after the billionaire entrepreneur agreed to buy Twitter Inc.

The meme coin climbed as high as 17 cents. It was a standout on a day when other cryptocurrencies from Bitcoin and Ether to Solana and Polkadot remained relatively flat.

Musk said on Twitter in January that Dogecoin could be used to buy Tesla Inc. merchandise. Musk, a frequent booster of Dogecoin on social media, has hinted at the move for some time.

“Elon has openly supported Dogecoin and previously ...