The owner of Twitter and renowned tech billionaire, Elon Musk changed the traditional logo of Twitter to that of the meme coin, DOGE.
On Monday, users of the platform reported that the blue bird logo on the platform’s loading screen and the home screen was changed with the Shiba Inu image associated with the meme coin. Musk, later on, tweeted a meme to notify and confirm the change.
— Elon Musk (@elonmusk) April 3, 2023
At the same time, the Dogecoin official account tweeted, ‘Very currency. Wow. Much Coin. How Money. So Crypto.’ The change follows two days after Musk urged a US judge to dismiss a $258 million lawsuit filed by the investors. These investors claimed that Musk operated a pyramid scheme to support the price of DOGE, but Musk’s lawyers stated that posting memes and tweeting words of support doesn’t account for a fraud claim.
Mixed Reactions from Social Media Users, Dogecoin (DOGE) Touches $0.1
Many users took it to different social media platforms, giving their take on the development in a humorous way. Users stated that the 51-year-old entrepreneur has made a joke that is almost similar to something a 13-year-old boy might make on Reddit. At the same time, some people believe that changing the logo of Twitter might just be Musk’s idea of an April Fools joke, despite the change being put into effect three days later.
Currently, the price of the meme coin is exploding. It is still nowhere near its peak price in May 2021 but DOGE is gaining a strong momentum lately. Musk changing the Twitter logo paved the way for the price of DOGE to shoot up in a matter of hours. At the time of writing, DOGE is up by an impressive 4.52%, pushing the trading price to $0.09751. The total market cap of DOGE is $13.5 billion. The token has consolidated a bit after touching the $0.1 mark
The integration of DOGE and Twitter is an interesting prospect within the crypto industry. Moreover, analysts and the crypto community have a lot to express in this whole scenario. It could continue speeding up DOGE’s upward stride, as the token aims to break out after struggling in the past few months. Investors are currently showing high interest in the meme token.
MUSK Delivers The New Logo of Twitter As Promised to a User
The main reason behind Musk changing the Twitter logo to that of DOGE is the conversation between Musk and the administrator of the r/WallStreetBets on Reddit. The user previously tweeted, asking Musk to change the platform’s logo to that of DOGE, to which Musk replied that it would be sick.
As promised pic.twitter.com/Jc1TnAqxAV
— Elon Musk (@elonmusk) April 3, 2023
Musk is committed to proving that his memes do not exactly impact the prices of cryptocurrencies. However, his actions and steps say otherwise. His involvement in DOGE and other such coins has remained a controversial topic in the crypto space. Similarly, it is believed that quick pump-and-dump schemes generate greater revenues for Musk in comparison to his selling Twitter Blue subscriptions for around $8 each.
Different market studies over the last couple of years suggest that Musk talking about DOGE tends to drive the price of the token higher in one way or another. Throughout 2021, Musk actively promoted the meme crypto by stating that it was the people’s crypto, and even proclaimed himself to be the ‘Dogefather.’
