Dogecoin Dog Shiba Inu: Twitter's New Logo?

Posted on April 4, 2023
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Dogecoin Dog Shiba Inu:-

Days after a lawsuit filed by Dogecoin investors was moved for dismissal through a petition by Elon Musk, the billionaire Changed the logo of Twitter.

The Twitter logo changed to Dogecoin Logo

In what is known as the late April Fool's gag, which did not take place on time, the Business Tycoon changed the logo of Twitter on April 3, 2023, from a bird to a celebrated meme dog "Shiba Inu", which also serves as the symbol of cryptocurrency "Dogecoin".

After this incident, this niche digital coin spiked more than 30% on Monday (April 3, 2023).

This comes just after when on Friday (March 31, 2023), Musk and the attorneys of Twitter filed for a dismissal petition tossing out a $ 258 billion lawsuit that accused Musk of manipulating the price of DogeCoin and spiking it for over 36000%.

Although only some users of Twitter could see the dog including those on its website, Musk having 133.5 million followers announced the change by sharing a meme on Twitter.

In defence by Musk's lawyers, his actions regarding this coin are termed as "innocuous and silly tweets" blaming the allegations to be a "fanciful work of fiction". But, Musk's public endorsement of the coin goes beyond these tweets, when in December 2021 he started to accept Dogecoin for merchandise.

Effect on Dogecoin

These periodical actions from Musk render the cryptocurrency very volatile and unstable. Currently, ranked 8th place among the most valuable cryptocurrencies in the world, Dogecoin was started as a joke in 2013.

As claimed by Musk, he still holds Dogecoin and he hasn't sold any of them. In the suit filed by Dogecoin investors, the two companies of Musk, namely Tesla and Boring Company are also named.

Twitter's valuation

The social media site hasn't made any attempt to remove the legacy blue tick, though, as promised. Twitter's worth has also reduced to less than $ 20 billion, comprising not even half of what Musk paid for it six months ago in October 2022.