Meme token economy saw a significant jump, with top coins such as Shiba Inu, Dogecoin, and Dogelon Mars rising 7-30% against the U.S. dollar today.

This was followed by Twitter’s announcement, according to which it has entered into a definitive agreement to be acquired for $54.20 per share, making the transaction worth approximately $44 billion. Elon Musk, who made the offer, plans to take the company private upon the completion of the transaction.

At the time of writing this article, Dogecoin was trading 28% higher against the U.S. dollar, which can be a result of speculation that Elon Musk may possibly implement dogecoin payments into Twitter’s operations. Shiba Inu and Dogelon Mars were up 7% and 8%, respectively.