The price of the Dogecoin crypto token shot up after Elon Musk replaced Twitter’s traditional bird icon with an image of a Shiba Inu. Quoting coinmarketcap.com, Tuesday (4/4), the Dogecoin price jumped 25.24 percent in the last 24 to $0.09702.
Musk, who also serves as Twitter’s CEO, tweeted “as promised” over an image of an old conversation in which another user suggested that Musk “just buy Twitter” and “change the bird logo to doge.”
According to a Reuters report, the doge logo appeared on the site two days after Musk asked a judge to throw out a US$258 billion extortion lawsuit accusing him of running a pyramid scheme in favor of dogecoin.
Lawyers for Musk and Tesla called the lawsuit by dogecoin investors a “fantastic work of fiction” over Musk’s “harmless and often ridiculous tweets”.
It is unclear if the logo change is permanent. Musk is known to use Twitter to troll his fans and critics.
Dogecoin was created on December 6, 2013, by a pair of software engineers – as a joke. The name refers to the “doge” meme that became popular a decade ago.