Dogecoin Surges After Elon Musk Replaces Twitter Bird With Shiba Inu
new York
CNN
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Twitter’s traditional bird icon has been removed and replaced with an image of a Shiba Inu, an apparent nod to dogecoin, the joke cryptocurrency over which CEO Elon Musk is being sued.
Elon Musk spoke about the change on Monday afternoon, tweet“as promised” above an image from a year-old conversation in which another user suggested Musk “just buy Twitter” and “change the bird logo to a doge.”
The doge logo appeared on the site two days after Musk asked a judge to dismiss a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support dogecoin, according to Reuters.
Lawyers for Musk and Tesla have called the lawsuit filed by dogecoin investors a “fanciful work of fiction” over Musk’s “harmless and often stupid tweets.”
It is not yet clear whether the logo change is permanent. Elon Musk is known for using Twitter to troll his fans and detractors.
The price of dogecoin, which is usually volatile, has risen more than 20% in the past 24 hours to around 9 cents. It was trading at just under 8 cents Monday morning.
Dogecoin was created on December 6, 2013, by two computer engineers as a joke. The name is a nod to the “doge” meme that became popular a decade ago. Its mascot Shiba Inu mimics that meme: a dog surrounded by a bunch of Comic Sans text in broken English.
cnn