Elon Musk’s change of Twitter logo to Shiba Inu leads to surge in Dogecoin price

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Twitter recently made waves by replacing its traditional bird icon with a Shiba Inu image, a move believed to be a playful reference to dogecoin, the joke cryptocurrency. CEO Elon Musk, who is facing a lawsuit over his involvement with dogecoin, hinted at the change in a tweet where he acknowledged a user’s suggestion to change Twitter’s logo to a doge.

Despite legal challenges related to dogecoin, Musk and Tesla’s lawyers have dismissed the $258 billion racketeering lawsuit as a work of fiction, emphasizing that Musk’s tweets are often lighthearted and innocent. The temporary doge logo on Twitter sparked speculation about its permanence, with Musk known for using the platform to engage with both supporters and critics.

As dogecoin’s value experienced a 20% surge over 24 hours, reaching around 9 cents, the cryptocurrency’s origin as a joke created by software engineers in 2013 resurfaced. The playful nature of dogecoin is reflected in its Shiba Inu mascot, reminiscent of the internet-famous “doge” meme from a decade ago.

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