Elon Musk’s Shiba Inu Avatar on Twitter Sparks Surge in Dogecoin Price

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Twitter recently made a significant change by replacing its iconic bird logo with an image of a Shiba Inu, a move widely seen as a nod to dogecoin, the comical cryptocurrency that Elon Musk, the CEO, is currently facing a lawsuit over.

Musk acknowledged the alteration by tweeting a year-old conversation suggesting the doge logo idea and captioning it with “as promised.” This modification transpired shortly after Musk requested a judge to dismiss a $258 billion racketeering lawsuit accusing him of operating a dogecoin-supported pyramid scheme.

Musk’s legal team dismissed the lawsuit as pure fiction, citing his harmless and playful tweets. Whether this logo change will be permanent remains uncertain, as Musk often utilizes Twitter for both amusement and trolling purposes.

Interestingly, dogecoin’s value, known for its volatility, saw an increase of over 20% in the past day, reaching about 9 cents, compared to just under 8 cents the previous day. Created in 2013 as a joke by two software engineers, dogecoin pays homage to the popular “doge” meme from a decade ago, epitomized by a Shiba Inu dog encircled by Comic Sans text in an amusingly broken English style.

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