Dogecoin: New Twitter logo triggers price explosion
Twitter has partially replaced its logo. Because the little blue bird Larry can no longer be seen everywhere on the platform’s website, but a dog. This is the logo of the cryptocurrency Dogecoin, the price of which shot up immediately.
Changes that appear insane from the outside are unlikely to shock Twitter users. Now the social network has apparently changed its logo.
Because the little blue bird can no longer be seen everywhere on the website – as usual. Instead, a dog has been sitting there for a short time. This is not just any dog, but the logo of the cryptocurrency Dogecoin.
What is Dogecoin?
The cryptocurrency Dogecoin has been in circulation since 2013. Cryptocurrency was originally created as a joke.
But now she ranks among the ten largest cryptocurrencies worldwide. Because Dogecoin currently has a market capitalization of around 10.7 billion US dollars. This means that the currency is far from coming close to bitcoin with a market capitalization of around 452.5 billion US dollars, but it still ranks 10th.
The Dogecoin is based on the well-known Doge meme developed. This is also why the cryptocurrency logo is a Shiba Inu dog.
What does cryptocurrency have to do with Twitter?
It is not yet known why Twitter exchanged its logo for Dogecoin’s. Also not sure if the change will be permanent. However, it can of course be assumed that it has something to do with the new owner and CEO Elon Musk.
Because he has repeatedly mentioned the fun cryptocurrency in recent years. Also he has the Dogecoin as Means of payment for his company Tesla authorized.
On Monday, Elon Musk tweeted a screenshot of a conversation he had with a Twitter user. He had suggested that Elon Musk should buy twitter and then change the logo. Musk shared this screenshot with the note “as promised”.
As promised pic.twitter.com/Jc1TnAqxAV
— Elon Musk (@elonmusk) April 3, 2023
Dogecoin: Positive impact on the course
The logo change comes at a not-so-unusual time. Because Elon Musk is currently facing a lawsuit because of the cryptocurrency.
The Tesla and Twitter CEO is accused of “running a pyramid scheme in support of cryptocurrency Dogecoin” How Reuters reported.
On Friday, Musk asked a US judge to dismiss the $258 billion racketeering lawsuit. His attorneys called the lawsuit an “imaginative work of fiction.”
In fact, Musk’s positive tweets or comments have regularly caused the value of the cryptocurrency to skyrocket.
That’s how it was, for example, after it was finally clear that Musk would (really) take over Twitter. And the change in the Twitter logo has given the cryptocurrency an increase of around 20 percent.
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The article Dogecoin: New Twitter logo triggers price explosion by Maria Gramsch appeared first on BASIC thinking. Follow us too Facebook, Twitter and Instagram.
