Dogecoin is up 35% since Monday following news that Elon Musk completed the deal to acquire social media giant Twitter. Doge raised his price by 10% after Tesla’s CEO changed his Twitter bio to read “Chief of Twit” on Wednesday.

After a month of long battle between Musk and Twitter about the sale, Musk closed the deal on Friday. According to the CNBC report, Tesla CEO Elon Musk is now in charge of social media and online news platform Twitter in a $44 billion deal.

Musk also decided to fire top executives, including CEO Parag Agrawal and Chief Financial Officer Ned Segal. According to the announcement, Twitter CEO Parag Agarwal and CFO Ned Segal have left the company’s San Francisco headquarters. CNBC reporter David Faber shared a tweet saying the executives are “not coming back.”

Musk expressed his excitement about closing the Twitter deal on Thursday, revealing the reason for the acquisition of the social media platform in a tweet: “Did he [bought Twitter] to try to help humanity, whom I love. And I do so with humility, recognizing that failure to achieve this goal, despite our best efforts, is a very real possibility.”

Faber expects more changes are likely within Twitter, as he believes Musk will lay off some of the company’s employees, as that number could reach “three-quarters of the staff.”

Meanwhile, Binance confirmed that the crypto exchange has invested in Musk’s Twitter deal, Bloomberg reported.

“Our goal is to play a role in bringing together social media and Web3 to broaden the use and adoption of crypto and blockchain technology,” Binance said in a statement, citing Changpeng “CZ” Zhao, its billionaire co-founder.

The report, citing a Binance spokesperson, said on Friday that “our initial commitment remains the same” and noted the possibility of growing the partnership.

In May, Binance said it had committed $500 million to the acquisition as part of its strategy to bring social media and news sites to the world of web3. After a month, the cryptocurrency exchange has announced that it will raise $500 million in crypto funds to improve the adoption of blockchain and Web3.

The cryptocurrency market is also stimulated by the Musk deal. Dogecoin has been in a steady decline for several months, trading lower on the market. But that changed on Monday of this week when the value of the meme coin made a sudden appearance, recovering 25% on the week and rising 16% on Wednesday. The bulldog price is up 35% since the beginning of this week. At the time of writing, the price is down 2.64% and is now trading at $0.0745, according to CoinMarketCap.

Source: TradingView

Doge’s rise is far from a normal revival: It’s related to Elon Musk’s acquisition of Twitter, as the company’s purchase deadline approaches on Friday.

Musk has been the most visible and vocal supporter of the meme cryptocurrency, often influencing its price with his tweets and even endorsing it as a payment option in his Tesla merchandise store.

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