- The DOGE proponent and Twitter CEO, Elon Musk, has replaced Twitter’s ‘’bird’’ logo with a Shiba Inu dog
- This comes just a few days after he requested the U.S. judge to dismiss a $258 billion lawsuit filed by investors claiming the operation of a pyramid scheme to promote Dogecoin
- The changes have led to a surge in the Dogecoin price, as it shoots up by 30.1% at press time
The Twitter CEO, Elon Musk, has changed the giant social media platform’s icon to a Shiba Inu dog. The changes come just days after the DOGE proponent requested a U.S. judge to dismiss a $258 billion lawsuit filed by investors. However, the suit alleged the operation of a pyramid scheme to promote Dogecoin.
Since Musk took over the social media platform, he promised more integration with cryptocurrencies and tweeted more about the meme coin. In February 2021, he tweeted a picture of his pet, Shiba Inu resembling the Dogecoin Mascot, which led to the token’s market cap increasing by $500 million. It is worth noting that the price of Doge has been growing with each positive tweet from the tech billionaire.
Dogecoin, founded in 2013, has gained popularity in recent years. There has been a concerted movement to get the coin to $1, which is yet to happen. However, the currency was valued at around 1 cent shortly after the sudden changes. Nonetheless, it is unclear whether the logo change is permanent or temporary. However, the ‘’Dogefather’’ himself tweeted a meme acknowledging the difference.
On the other hand, the Dogecoin account couldn’t resist responding to the stirred-up news going around the social platforms. The Dogecoin noted:
‘’Very Currency. Wow. Much Coin. How Money. So Crypto.’’
Additionally, the logo update fulfills a promise in an earlier conversation between Musk and the WSB Chairman. The WSB Chairman suggested that Musk should ‘’just buy Twitter and change the logo.’’ Jokingly, Musk noted that ‘’that would be sickkk.’’
Dogecoin’s Update Draws Stirred-Up Reactions
Elon Musk’s idea of removing and replacing the Twitter bird logo with DOGE has drawn reactions from various individuals in space. Some include Coin Bureau, which has called out Musk to be a God-tier troller of DOGE.
However, other traders seem displeased with Musk’s decision to change the logo. A pseudonymous trader, who is perceived to be a Bitcoin proponent, took to his Twitter to address the CEO’s decision as a ‘’promotion to degenerating a get rich quick crap.’’
It is worth noting that Musk is not against Bitcoin. However, he argues that DOGE is better for daily transactions than BTC. This is due to its faster base-layer transaction throughput.
DOGE Price Shoots Up
The beloved cryptocurrency that resumed as a joke has set the crypto space ablaze, with its soaring price surging in the past 24 hours. Following the changes, the Dogecoin price is up by 30.1%, as the coin is trading at $0.1022, according to CoinGecko data.
Dogecoin has added $2 billion to its market cap over the last 24 hours, flipping Cardano (ADA) to become the seventh largest crypto by market value, according to CoinMarketCap’s ranking.