The price of the meme cryptocurrency Dogecoin (CRYPTO: DOGE) surged higher this week as Dogecoin supporter and Tesla Founder Elon Musk closed on his acquisition of the social media giant Twitter. 

According to data provided by S&P Global Market Intelligence, Dogecoin traded close to 43% higher this week, as of 10:21 a.m. ET Friday.

Dogecoin rose to popularity in 2021, largely thanks to support from Musk, who counts the cryptocurrency as one of three tokens he owns. Musk reportedly bought Dogecoin when he saw that employees at Tesla and SpaceX, another big company he runs, were purchasing Dogecoin with great enthusiasm. 

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Source Fool.com