© Reuters Dogecoin Skyrockets As Elon Musk Changes Twitter’s Bird Logo To Doge Icon
Benzinga – Twitter’s website got a makeover on Monday, as the Dogecoin (CRYPTO: DOGE) logo replaced the Twitter icon on the website’s homepage. As a result, Dogecoin’s price skyrocketed more than 20% Monday afternoon, going from less than 8 cents to almost 10 cents in just 30 minutes.
The change comes amid countless disruptions that Elon Musk has made at Twitter since taking over the company late last year. Most recently, major company Twitter accounts such as the New York Times announced that they would not pay for Twitter blue, and thus lose their blue check.
As Twitter’s CEO, Musk had not tweeted anything about the Doge icon replacing Twitter’s logo Monday. Musk has had a history of using his social media presence to talk about Dogecoin and other cryptos.
He is in the midst of a $250-million lawsuit claiming that Musk used a pyramid-scheme-type plot to prop up the price of Dogecoin. His lawyers called the lawsuit, brought about by Dogecoin investors, “fiction.”
Read Also: Elon Musk Seeks Dismissal Of $258M Dogecoin Lawsuit Accusing Him Of Fraudulently Promoting It: ‘Court Should Put A Stop To Plaintiffs’ Fantasy’
Dogecoin reached its all-time high of 74 cents around Musk’s Saturday Night Live appearance in May 2021. At the time, Musk tweeted multiple times seemingly endorsing the crypto coin, calling it “the people’s crypto.”
According to text messages revealed through court filings, Musk also looked into using blockchain technology to run Twitter before finding it to be not feasible. It’s possible that Monday’s logo change is a sign that Twitter is trying to incorporate crypto somehow in its operations. We will see if Twitter or Musk gives more clarity on the reasoning behind Twitter’s logo change on Monday.
Now Read: Dogecoin Poised To Soar Past $0.10 After Finding ‘Spot For A Bounce’, Says Analyst
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