Dogecoin Surges 20% as Doge Replaces Bird Logo on Twitter
Bird out, Doge in? Something is happening over at Elon Musk’s Twitter.
Elon Musk and Dogecoin. The circle of life. Image: Twitter
Elon Musk and Dogecoin. The circle of life. Image: Twitter
DOOGCOIN
The price of Dogecoin rallied on Monday after the token’s mascot was included in a peculiar reference on Twitter.
Users visiting the website were greeted with the Shiba Inu internet meme that the token is based around, instead of the social media website’s typical blue bird logo.
? pic.twitter.com/1grRZj9I5z
— db (@tier10k) April 3, 2023
The inclusion of Dogecoin’s mascot caused the token’s price to surge as people became aware of the reference. Dogecoin rose over 20% to around $0.092 on Monday in less than an hour, notching its highest price in over a month, according to CoinGecko. The price has nudged even higher since, currently sitting around $0.095.
When asked for a comment regarding the mascot’s inclusion, Twitter responded to Decrypt with a poop emoji. Shortly after the change was made, Musk tweeted the image below, apparently acknowledging the buzz around the move.
pic.twitter.com/wmN5WxUhfQ
— Elon Musk (@elonmusk) April 3, 2023
On Friday, Musk asked a Manhattan judge to throw out a $258 billion lawsuit in which he and his electric car company Tesla are accused of running a pyramid scheme to support the price of Dogecoin. Lawyers for Musk and Tesla billed the lawsuit a “fanciful work of fiction.”
“There is nothing unlawful about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency that continues to hold a market cap of nearly $10 billion,” the filing reads. “This court should put a stop to plaintiffs’ fantasy and dismiss the complaint.”
The appearance of the Dogecoin mascot on Twitter represents the latest chapter in a long-running relationship between Twitter CEO Elon Musk and the canine-themed cryptocurrency.
Tesla has admitted to holding Dogecoin as well as Bitcoin in the past. Though the company parted with 75% of its Bitcoin holdings last year, the CEO said during an earnings call, “We have not sold any of our Dogecoin; we still have it.”
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