CryptoCactus
Well-known member
Elon Musk's Twitter Logo Change Sparks Price Surge for Dogecoin.
In a surprise move, Elon Musk replaced the traditional Twitter bird logo with an image of a Shiba Inu, a symbol commonly associated with dogecoin, a cryptocurrency that has been at the center of a high-profile lawsuit accusing Musk of running a pyramid scheme. The change was made on Monday afternoon, just two days after Musk asked a judge to dismiss the $258 billion racketeering lawsuit.
Musk's decision to swap out the Twitter bird for a Shiba Inu comes as lawyers for both sides have been trading barbs over the nature of his tweets about dogecoin. Critics have labeled the lawsuit against Musk "fanciful work of fiction," while Tesla and Musk himself have downplayed its legitimacy, with Musk describing it as an "innocuous and often silly tweet."
However, it seems that Musk's move to change the Twitter logo has had a very real impact on the price of dogecoin. The cryptocurrency experienced a 20% surge in value over the past 24 hours, trading at around 9 cents per coin. This is a significant increase from its morning price of just under 8 cents.
It's worth noting that dogecoin was originally created as a joke by two software engineers in December 2013. The name "dogecoin" is a nod to the popular internet meme, which features an image of a Shiba Inu surrounded by Comic Sans text and broken English. Musk has long been associated with the dogecoin brand, despite the cryptocurrency's humble origins.
The long-term implications of Musk's logo change remain unclear. While it may be a one-off move, some analysts believe that it could have a lasting impact on the price of dogecoin and other cryptocurrencies tied to the billionaire entrepreneur. For now, however, it seems that Musk's decision has sparked a renewed wave of interest in the cryptocurrency, with its price surging as a result.
In a surprise move, Elon Musk replaced the traditional Twitter bird logo with an image of a Shiba Inu, a symbol commonly associated with dogecoin, a cryptocurrency that has been at the center of a high-profile lawsuit accusing Musk of running a pyramid scheme. The change was made on Monday afternoon, just two days after Musk asked a judge to dismiss the $258 billion racketeering lawsuit.
Musk's decision to swap out the Twitter bird for a Shiba Inu comes as lawyers for both sides have been trading barbs over the nature of his tweets about dogecoin. Critics have labeled the lawsuit against Musk "fanciful work of fiction," while Tesla and Musk himself have downplayed its legitimacy, with Musk describing it as an "innocuous and often silly tweet."
However, it seems that Musk's move to change the Twitter logo has had a very real impact on the price of dogecoin. The cryptocurrency experienced a 20% surge in value over the past 24 hours, trading at around 9 cents per coin. This is a significant increase from its morning price of just under 8 cents.
It's worth noting that dogecoin was originally created as a joke by two software engineers in December 2013. The name "dogecoin" is a nod to the popular internet meme, which features an image of a Shiba Inu surrounded by Comic Sans text and broken English. Musk has long been associated with the dogecoin brand, despite the cryptocurrency's humble origins.
The long-term implications of Musk's logo change remain unclear. While it may be a one-off move, some analysts believe that it could have a lasting impact on the price of dogecoin and other cryptocurrencies tied to the billionaire entrepreneur. For now, however, it seems that Musk's decision has sparked a renewed wave of interest in the cryptocurrency, with its price surging as a result.
like what even is going on with Elon and dogecoin?! 
he's literally making moves left and right and it's affecting these cryptos in a HUGE way! I'm not mad or anything, but can't help but wonder if this is some kinda marketing genius or just pure chaos 
anyway, 20% surge in value? that's straight fire 
gotta keep an eye on this one
I think this is a classic case of market manipulation by Musk... just kidding 
. But on the other hand, some people might view his involvement as a bit too cozy, especially given the lawsuit against him.
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the price surge for Dogecoin is wild! I mean, I knew Elon was a bit of a wild card but this takes it to another level 
I've been following Dogecoin since its early days and it's crazy to see how far it's come. The fact that Musk's tweet about it sparked all this attention is just insane 
. I'm not saying the lawsuit isn't without merit, but I do think there's some truth to the claim that Musk has been a bit of a "Dogecoin dad" – you know, always showing love for the underdog crypto 
. Anyway, it'll be interesting to see how this plays out and what other surprises Elon has up his sleeve 
. It's hilarious that people are still going back and forth about whether he's serious or just trolling us 
maybe he's just trolling us all again 
But seriously, this just goes to show that money can buy influence (and apparently, attention too... eyes are on the prize, folks 
- suddenly people care about doge! 
and i gotta ask, has anyone else seen their dogecoin value skyrocket overnight? 
. And honestly, if you're invested in dogecoin, you should probably be used to price swings by now... like, have you not been paying attention? 
just saw this and i'm like wut is good?! 
i mean if he can just throw his weight behind a meme crypto, who needs actual regulatory oversight lol 
i mean, who knew a shiba inu logo change could have such a huge impact on cryptocurrency prices? 
, and we're all just along for the ride 
. anyway, as a format freak, i'm more interested in how this will affect the overall design aesthetic of twitter 
20% surge in value over just 24 hours? That's crazy 
!