Dogecoin’s Value Skyrockets After Elon Musk Changes Twitter Web Logo To Shiba Inu
Twitter changed the logo to a Dogecoin on its website on Monday, for no apparent reason.
Twitter CEO Elon Musk changed the iconic blue bird logo with the “doge” meme of the Dogecoin cryptocurrency. Notably, there was no change on Twitter’s mobile app. Soon after the change, the value of Dogecoin skyrocketed briefly pushing its price to more than $0.10 for the first time in months, reported Forbes.
The volatile cryptocurrency’s price soared more than 30 per cent in just 30 minutes. In the past, Musk has expressed support for dogecoin and is even involved in a legal battle around it.
It is pertinent to mention that the doge image (of a Shiba Inu) is well-known as the logo of the Dogecoin blockchain and cryptocurrency, which was created as a joke in 2013 — to mock other cryptocurrencies like Bitcoin, Variety reported.
Twitter’s CEO also shared the screenshot of the March 26, 2022, conversation between him and the anonymous account where the latter was asking to change the bird logo to “doge.” Sharing this post on Twitter, Musk wrote, “As promised.”
According to Variety, Musk, who bought Twitter last fall in a USD 44 billion deal, is a well-known superfan of the Doge meme and he has promoted Dogecoin both on Twitter and during his appearance last year hosting “Saturday Night Live.” After the change to Twitter’s web logo Monday, the value of Dogecoin rose more than 20 per cent.
After Musk tweeted in March 2022, prior to mounting his eventually successful bid to buy Twitter, “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?” Musk tweeted.
@WSBChairman had responded, “just buy twitter… and change the bird logo to a doge.” Musk responded, “Haha that would sickkk”.
He had also posted another photo stating, “Seize the Memes of Production.”
Earlier, on February 15, Musk’s love for ‘doge’ was visible as he posted the photograph of the Dogecoin blockchain and cryptocurrency logo, posing as the CEO, on his account with the caption, “The new CEO of Twitter is amazing.”