DOGE cryptocurrency surged 35% after the completion of Elon Musk's Twitter purchase

Still, on a bullish wave, the cryptocurrency market took advantage of Musk-related events, and DOGE rose 15% in just 24 hours. 

It was also up 10% shortly after the billionaire changed his Twitter bio to "Chief of Twit" and tweeted, "Bird released."

Pretty symbolic. However, the Dogecoin rally was short-lived, as Coingecko data shows Doge trading at $0.0744. At the time of publication, the meme coin is down 6.7% on the intraday chart.

If you take the time frame from Monday, however, it was able to jump as much as 35 percent. After criticizing censorship and denouncing problems with bots on the social media platform, Musk, the Tesla CEO, joined Twitter's board of directors. But that wasn't good enough for him.

And now the biggest Dogecoin fan owns Twitter. There are also rumors that Twitter is in the process of creating its own cryptocurrency wallet prototype. However, there's no official statement on this yet.

According to tech blogger Jane Manchun Wong, the wallet the company is working on has cryptocurrency input and output features.