Elon Musk Replacing Twitter Bird with Shiba Inu Triggers Dogecoin Surge

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In recent news, Twitter made a change to its iconic bird logo, replacing it with an image of a Shiba Inu. This change is believed to be a nod to dogecoin, the joke cryptocurrency that CEO Elon Musk is currently facing a lawsuit over. Musk himself addressed the logo change, sharing a screenshot of a conversation from a year ago where a user suggested the idea of changing the bird logo to a doge. It remains unclear whether this logo change is permanent, as Musk is known for his playful and trolling behavior on Twitter.

The timing of this logo change is interesting, as it comes just two days after Musk filed a request to dismiss a $258 billion racketeering lawsuit against him. The lawsuit accuses Musk of running a pyramid scheme to support dogecoin. Lawyers representing Musk and Tesla dismissed the lawsuit as a “fanciful work of fiction” and emphasized that Musk’s tweets are innocuous and often silly.

As this news broke, the price of dogecoin experienced a significant increase of over 20% in the past 24 hours, reaching around 9 cents. The cryptocurrency has always been known for its volatility. It is worth noting that dogecoin was originally created as a joke by two software engineers in December 2013. The name “dogecoin” is a reference to the “doge” meme that gained popularity a decade ago, with its Shiba Inu mascot conveying broken English text in the Comic Sans font.

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