Elon Musk's Twitter makeover has sent shockwaves through the crypto world, as the billionaire CEO replaced the site's iconic bird logo with an image of a Shiba Inu, a nod to Dogecoin, the joke cryptocurrency that has been at the center of a $258 billion lawsuit accusing him of running a pyramid scheme.
Musk tweeted "as promised" alongside the image, referencing a year-old conversation where another user suggested changing the bird logo to a doge. This move came just days after Musk asked a judge to dismiss the lawsuit, which was filed by investors who claim Dogecoin is backed by Musk's alleged plans for Twitter.
Lawyers representing Musk and Tesla have dismissed the lawsuit as a "fanciful work of fiction" and an attempt to capitalize on Musk's "innocuous and often silly tweets." However, the sudden appearance of the Shiba Inu logo has sparked a surge in Dogecoin's price, with the cryptocurrency jumping more than 20% over the past 24 hours.
Created as a joke by two software engineers in December 2013, Dogecoin was originally called after a popular internet meme featuring a dog surrounded by Comic Sans text. The move from Twitter has likely brought it back into the spotlight and sparked renewed interest among investors.
It remains to be seen whether the Shiba Inu logo will stick, but for now, its appearance on Twitter has given Dogecoin a much-needed boost. The price of the cryptocurrency was trading at about 9 cents just under 24 hours ago, before surging out of control with Musk's unexpected move.
Musk tweeted "as promised" alongside the image, referencing a year-old conversation where another user suggested changing the bird logo to a doge. This move came just days after Musk asked a judge to dismiss the lawsuit, which was filed by investors who claim Dogecoin is backed by Musk's alleged plans for Twitter.
Lawyers representing Musk and Tesla have dismissed the lawsuit as a "fanciful work of fiction" and an attempt to capitalize on Musk's "innocuous and often silly tweets." However, the sudden appearance of the Shiba Inu logo has sparked a surge in Dogecoin's price, with the cryptocurrency jumping more than 20% over the past 24 hours.
Created as a joke by two software engineers in December 2013, Dogecoin was originally called after a popular internet meme featuring a dog surrounded by Comic Sans text. The move from Twitter has likely brought it back into the spotlight and sparked renewed interest among investors.
It remains to be seen whether the Shiba Inu logo will stick, but for now, its appearance on Twitter has given Dogecoin a much-needed boost. The price of the cryptocurrency was trading at about 9 cents just under 24 hours ago, before surging out of control with Musk's unexpected move.
Elon's gotta love himself some DOGE 
! 
Who needs a bird logo when you can have a cute Shiba Inu face? 
The internet is already loving it and Dogecoin is riding the wave 
. Musk, you sneaky genius or what? 
Is it really just a "fanciful work of fiction" or is there more to it? And why did Musk decide to go all in on Dogecoin like this? 
It feels like he's trying to stir the pot. Anyway, I'm kinda hyped for Dogecoin's price to keep going up... who knows what's next? 
I gotta say, I'm loving this move by Elon on Twitter 
! the Shiba Inu logo is so fire 
and it's hilarious that he finally gave in to dogecoin fans 
. it's like he's embracing the meme culture and giving dogecoin a legit boost 
i mean, dogecoin is already super popular among some ppl, and now it gets a boost from elon's tweet? cool i guess. but let's be real, the price of crypto can be super volatile anyway 
so its not like this one tweet made or broke the whole thing. but hey, if people wanna get all worked up about it, that's their prerogative 
the Shiba Inu logo is adorbs! 
20% surge in price over just 24 hours? that's insane! 
fingers crossed the Shiba Inu logo stays for a bit longer, who knows what other fun surprises he might have in store for us 
maybe he can even use his influence to make it legit or something (just kidding, that'll never happen