Cryptoverse-Elon Musk frees the bird and the dog coin flies

FILE PHOTO: Representations of the virtual currency Dogecoin are seen in this illustration taken June 16, 2021. REUTERS/Dado Ruvic

SINGAPORE (Reuters) - It's no joke. Elon Musk's acquisition of Twitter has put fresh wind in the sails of dogecoin, the meme cryptocurrency he catapulted to fame.

Dogecoin's price doubled after the Tesla tycoon completed the $44 billion deal. It was trading at about $0.07 on Oct. 27 before Musk tweeted "the bird is freed" to announce his ownership. Five days later, it was at $0.16.