The dog coin also came to "rub the heat" after Twitter accepted Musk's takeover offer jumped more than 24%

Musk has always been a champion of cryptocurrencies, and in addition to talking about dogcoins, his Tesla Inc. is one of the biggest corporate buyers of bitcoin. Investors who want to see Twitter integrate more cryptocurrency features will be watching Musk's next moves closely. Bitcoin's core principle of "anarchy" is ostensibly in line with Musk's vision of a free speech utopia.

Musk, who describes himself as a "free speech absolutist," said Twitter should be more careful when deciding to delete tweets or permanently ban users' accounts, noting that a temporary suspension would be a better solution. He also wants the platform to be more transparent in taking actions to expand or reduce the reach of its tweets.

He has said he wants Twitter to reduce its reliance on advertising and shift its business model more toward subscription services. The platform currently offers a subscription service called Twitter Blue, which offers customers premium features such as "untweet" for $2.99 a month. As part of the subscription service, Musk proposes to remove all ads from Twitter.