Elon Musk’s Change to Shiba Inu Icon on Twitter Boosts Dogecoin Price

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Twitter’s iconic bird logo has been replaced with an image of a Shiba Inu, possibly referencing dogecoin, the cryptocurrency that CEO Elon Musk is currently facing a lawsuit over. Musk responded to the change by sharing a conversation from a year ago where a user suggested changing Twitter’s logo to a doge. The switch to the doge logo coincided with Musk requesting the dismissal of a $258 billion racketeering lawsuit linked to dogecoin.

Musk’s legal team dismissed the lawsuit as a work of fiction, challenging the accusations of running a pyramid scheme through dogecoin support. The logo alteration’s permanency remains uncertain, considering Musk’s tendency to use Twitter for playful interactions with his followers and critics.

Dogecoin’s price, known for its volatility, surged by over 20% in the past 24 hours, reaching around 9 cents, following the logo change. Initially created as a joke by two software engineers on December 6, 2013, dogecoin pays homage to the popular “doge” meme from a decade ago. Its Shiba Inu mascot embodies the meme’s essence, featuring a dog alongside Comic Sans text written in broken English.

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