Elon Musk’s Twitter Update Boosts Dogecoin’s Value
Twitter has replaced its traditional bird icon with an image of a Shiba Inu dog, which is believed to be a reference to dogecoin, a joke cryptocurrency that CEO Elon Musk is being sued over.
Musk confirmed the change on Twitter, sharing an old conversation in which another user suggested that he should “just buy Twitter” and “change the bird logo to a doge.”
The change was made two days after Musk requested a judge to dismiss a $258 billion racketeering lawsuit filed against him by dogecoin investors.
Lawyers for Musk and Tesla dismissed the lawsuit as a “fanciful work of fiction” over Musk’s “innocuous and often silly tweets.”
It is not clear whether the logo change is permanent or not, as Musk has a history of using Twitter to troll his followers and critics.
Dogecoin was created in December 2013 as a joke by two software engineers, and its name is a reference to the “doge” meme that was popular a decade ago.
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The cryptocurrency’s Shiba Inu mascot is a nod to the meme, which features a dog surrounded by Comic Sans text in broken English.
The price of dogecoin is typically volatile, and it has seen a 20% increase in value over the past 24 hours, reaching around 9 cents.
It was trading just below 8 cents on Monday morning.
In summary, Twitter has replaced its bird icon with a Shiba Inu dog, which is believed to be a nod to dogecoin, a cryptocurrency that Elon Musk is being sued over.
The change was made two days after Musk requested a judge to dismiss a lawsuit filed by dogecoin investors.
Dogecoin was created as a joke in 2013, and its name is a reference to a popular meme from a decade ago.
The cryptocurrency’s value is typically volatile and has seen a 20% increase in value over the past 24 hours.
It remains unclear whether the logo change is permanent or not.
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