Doge Twitter Logo Sparks a 30% Spike in Dogecoin Price

Twitter users were in for a surprise on April 3, 2023, as the platform’s iconic blue bird logo was replaced by a Shiba Inu dog. The official logo of the cryptocurrency Dogecoin, a derpy-looking dog, welcomed users on the social media platform. The sudden change was noticed by several users, who shared images of their profiles with the new logo. While the reason for the change was not formally announced, it was speculated that it might be related to April Fools’ Day, which occurred two days prior.

Elon Musk, who is the current owner and CEO of Twitter, is speculated to be having a tough time related to disgruntled workers or a recent lawsuit against him concerning cryptocurrency. In June 2022, a Dogecoin investor filed a lawsuit against Musk for $258 billion on racketeering charges. The lawsuit accused Musk and his companies, Tesla Inc and SpaceX, of promoting Dogecoin and driving up its prices, only to let its prices crash two years later. Musk called the lawsuit a “fanciful work of fiction” and asked a U.S. judge to throw it out.

The sudden change of the Twitter logo to the Dogecoin logo led to a 30% spike in the cryptocurrency’s price. Dogecoin, founded in 2013, has gained popularity in the last couple of years, and there was a concerted movement to get the coin to $1, which has not yet happened. As of Monday night, the coin was valued at about one cent.

The sudden logo change is a callback to a Twitter user who suggested that Musk buy the company and change the logo. “Just buy Twitter,” one user said. “And change the bird logo to a doge.” “Haha that would [be] sickkk,” Musk said. On Monday, Musk posted a screenshot of the interaction and said, “As promised.”

However, amidst all this excitement, the Shiba Inu dog behind the famous ‘doge’ meme is reported to be sick with cancer, according to its owner. The meme became popular in 2013 and led to the creation of the Dogecoin cryptocurrency, which has since become a household name.

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