The well-known Twitter logo in the shape of a blue bird suddenly changed on Monday evening to the image of internet meme dog Doge. It is no coincidence that this is also the logo of crypto coin Dogecoin, of which Twitter boss Elon Musk is such a fan.
Almost immediately after Twitter users realized that the logo had changed, the price of Dogecoin rose significantly. According to financial news agency Bloomberg the value of the company had already risen by 30 percent an hour after the logo change.
Twitter boss Elon Musk is still silent on the social medium, but no one is surprised if he has thought of taking the Shiba Inu dog as a logo. The timing doesn’t seem coincidental either. Cryptoinvestors sued Musk last week for $258 billion (converted to $237) because he allegedly inflated the price of Dogecoin earlier.
For example, Musk previously used Twitter to show his appreciation for Dogecoin. He did the same during an appearance on the American satirical TV show Saturday Night Live. He also came into the picture during the last Super Bowl in America with a T-shirt with the meme dog on it.
Cryptocurrency prices usually react strongly to statements, tweets or TV appearances by Musk. However, it is difficult to accuse him of market manipulation, because there are no rules in the crypto market. According to Musk’s lawyers, there is nothing illegal about the Twitter CEO’s and Tesla’s endorsement of the cryptocurrency.
Twitter itself has not yet commented on the logo change.
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