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Dogecoin jumps after Elon Musk replaces Twitter bird with Shiba Inu!

05.04.2023 04:12 AM
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Dogecoin jumps after Elon Musk replaces Twitter bird with Shiba Inu!
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Dogecoin jumps after Elon Musk replaces Twitter bird with Shiba Inu!
 
 

An unexpected change occurred few days ago, the price for cryptocurrency Dogecoin spiked by about 30% Monday after Twitter CEO Elon Musk changed the app logo from its blue bird to a Shiba Inu dog, a symbol often associated with the coin.

 

Dogecoin, founded in 2013, has gained huge popularity in the last couple of years. The plan was to get the coin to $1, but unfortunately this has not yet happened. Shortly and approximately around 11 PM Monday, the coin was valued at about 1 cent.

The story behind this sudden logo change is a call back to when a Twitter user suggested Musk to buy the company and change the logo.

"Is a new platform needed?" he tweeted.

"Just buy Twitter," one user said. "And change the bird logo to a doge."

"Haha that would [be] sickkk," Musk replied.

On Monday, Musk posted a screenshot of the interaction and said, "As promised."

 

Due to this decision, Musk is currently facing a $258 billion class-action lawsuit in federal court, where he is accused of engaging in a pyramid scheme by promoting the cryptocurrency. Musk often voiced his support for the coin and was even nicknamed "The Dogefather."

 

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