- The Twitter logo changed from bluebird to Shiba Inu’s image. Once again, Elon Musk makes Dogecoin jump by changing the Twitter logo
- Elon Musk who still holds the currency also endorses it through tweets.
After Elon Musk CEO of Twitter changed its blue bird logo to Shiba Inu’s image on the official website of Twitter the cryptocurrency dogecoin spiked by 30% due to the digital coin’s logo.
Giving reference to a lawsuit of $258 billion accusing him of manipulating dogecoin’s price and driving it up by 36,000% in 2022, Musk and the attorneys of Twitter asked the federal judge to toss it out on Friday.
The dog was visible to only some Twitter users including one on the website and as the logo was altered Elon Musk shared a meme with his 133.5 million followers on Twitter. The request to comment was unanswered by Twitter.
He has been endorsing the token created as a joke in 2013 and often tweets about it predicting its volatility. Dogecoin has over a $13 billion market cap and is the eighth-most valuable cryptocurrency.
Musk’s lawyers described his public statements about the coin as “innocuous and often silly tweets,” in a court filing Friday.
The endorsement of the crypto-currency not being restricted to Twitter has also led to Musk’s other companies Tesla and Boring Company being tagged in the lawsuit. It was also announced by Tesla in December 2021 that Dogecoin can be exchanged for some merchandise and Elon Musk then tweeted saying that Tesla will see how it goes.
All this led to rising cryptocurrency by almost 20% and after announcing that the currency exchange payments were thus started in January 2022 Dogecoin’s value increased by 15%.
Musk also recently tweeted a picture with News Corp Chairman Rupert Murdoch with “Dogecoin” in the caption. He also disclosed saying, “We have not sold any of our doge coins” and also hinted that he himself holds doge coins. Apart from this the company Tesla also holds digital assets on its books including bitcoin.
