Elon Musk Changes Twitter Icon to Doge After Seeking Lawsuit Dismissal
Dogecoin surged more than 20% in about an hour after Twitter changed its icon to a picture of the memecoin’s Shiba Inu.
On April 3, social media giant Twitter changed its icon to that of the symbol on the popular meme token Dogecoin (DOGE $0.10).
Dogecoin is up sharply in light of the news, with its price surging by more than 22% in an hour to $0.09784. The icon change took place platform-wide and is directly visible by the social media giant’s estimated 360 million monthly active users, and visitors to the platform alike.
Shortly after the icon change, the Twitter and Tesla CEO tweeted the following meme, which appears to imply that the change will be around for some time:
It appears that the reason behind the change can be attributed in part to a conversation with the administrator of the popular r/WallStreetBets SubReddit on Twitter. “Change the bird logo to a doge,” said the WSB chairman. “Haha that would be sickkk,” Elon wrote.
Multiple market studies in the past have suggested that Musk tweeting about DOGE tends to drive its price higher. Throughout 2021, Musk promoted the cryptocurrency with slogans such as “Dogecoin is the people’s crypto,” and proclaimed himself to be the “Dogefather.” Last year, Tesla launched a new series of whistles inspired by the Cybertruck series. Each whistle was priced at 1,000 DOGE or $60 at the time of announcement. Fellow American billionaire Mark Cuban has also praised Dogecoin, claiming that it could be used to solve Twitter’s spam problem.
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