Bitcoin News: Dogecoin Price Surges 23% Following Twitter’s Logo Replacement with Doge Picture
Twitter changed its logo to feature the famous Shiba Inu Doge on 4 April, sparking speculation on social media as to how long the meme-inspired logo will last. Furthermore, Dogecoin, the leading meme coin cryptocurrency, jumped 23% higher against the US dollar after the image switch, reaching a high on Monday of $0.1011 per unit and having $1.22bn in 24-hour global trade volume. The leading cryptocurrency is down 28% year to date, but increased by 30% over the past fortnight. The switch happened as Twitter is rumoured to be considering charging users for blue checkmark verification symbols. There were no formal explanations for the switch, though some speculated that Elon Musk was behind the change due to the automaker’s affinity for the Shiba Inu meme. The incident prompted Musk to share a meme sending up himself, alleging that he had dropped a suggestion to Twitter CEO Jack Dorsey over the phone about using Doge as the firms logo, which Dorsey mistakenly acted on.