Elon Musk's recent move has sent shockwaves through the cryptocurrency market, as Twitter's iconic bird logo was replaced with an image of a Shiba Inu - the very same breed that is the mascot for dogecoin, the joke cryptocurrency at the center of a high-profile lawsuit against Musk.
The change came just two days after Musk asked a judge to dismiss a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the dogecoin. The move appears to be a nod to one of his fans, who had suggested on Twitter that Musk "just buy Twitter" and "change the bird logo to a doge."
Musk tweeted about the change on Monday afternoon, saying "as promised," referencing the old conversation. However, it's unclear whether the new logo will stick or if it was just a one-off prank.
The price of dogecoin has seen a significant spike since the announcement, with the cryptocurrency jumping over 20% in value in the past 24 hours. The surge in value is likely due to Musk's tweet about the change, which some see as an endorsement of the cryptocurrency.
Dogecoin was created back in December 2013 by two software engineers who were poking fun at internet memes. The name and branding are meant to be humorous and ironic, but it seems that even a simple joke can have real-world consequences.
As for Musk's intentions behind the change, they remain unclear. One thing is certain, however: the billionaire entrepreneur is known for using his social media platform to stir up controversy and play pranks on his fans and critics alike.
The change came just two days after Musk asked a judge to dismiss a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the dogecoin. The move appears to be a nod to one of his fans, who had suggested on Twitter that Musk "just buy Twitter" and "change the bird logo to a doge."
Musk tweeted about the change on Monday afternoon, saying "as promised," referencing the old conversation. However, it's unclear whether the new logo will stick or if it was just a one-off prank.
The price of dogecoin has seen a significant spike since the announcement, with the cryptocurrency jumping over 20% in value in the past 24 hours. The surge in value is likely due to Musk's tweet about the change, which some see as an endorsement of the cryptocurrency.
Dogecoin was created back in December 2013 by two software engineers who were poking fun at internet memes. The name and branding are meant to be humorous and ironic, but it seems that even a simple joke can have real-world consequences.
As for Musk's intentions behind the change, they remain unclear. One thing is certain, however: the billionaire entrepreneur is known for using his social media platform to stir up controversy and play pranks on his fans and critics alike.
just looked at the stats and it's crazy! The price of dogecoin has spiked by 20% in 24 hours 
. It's like a perfect storm of FUD (fear of missing out) and Musk's tweet about changing the Twitter logo to a Shiba Inu 
. Dogecoin's market cap is up over $10 billion 
. And you know what's even wilder? The number of tweets about dogecoin has gone from 100k to 1.5 million in just 2 days 
! It's like the whole crypto community is going wild 
. Anyways, this could be a major turning point for dogecoin... or it could all be just another Musk PR stunt 
.
either way, I'm not buying it (pun intended). 
i don't know man, i'm just keepin' an eye on this...
to distract us from the real issue: his control over Twitter 
. The bird logo change? Just a distraction from the bigger picture 
. Mark my words, this is all about Musk playing both sides 
and controlling the narrative 
.
. But hey, if it's good enough for Elon, it's good enough for me 
... until the bubble bursts, that is 
.
. Like, what's next? Is he gonna change Twitter's color scheme to match his socks?