Meme coin Dogecoin’s value surges by 30% after replacing Twitter’s logo with a dog image on its homepage.
Twitter surprised users by replacing its blue bird homepage icon with dogecoin’s cartoon Shiba Inu dog, prompting the cryptocurrency to soar as much as 30%. Dogecoin’s meme mascot was visible in the top-left corner of Twitter’s homepage. As of approximately 2.45 pm Eastern Time, dogecoin had pared some of its gains but was still trading nearly 20% higher at roughly 10 cents per token – its highest level since early February. Twitter CEO Elon Musk commented on the change, and the dogecoin logo appeared just days after Musk’s lawyers asked a judge to dismiss a $258bn racketeering lawsuit accusing the billionaire of running a “pyramid scheme” to boost the digital currency’s value. Last month, Musk revealed that all media inquiries sent to Twitter’s press email account would receive an auto-reply of a single poop emoji. Musk has frequently touted his support for dogecoin, tweeting last June that he was still buying the meme token even as other cryptocurrencies fell in value. Last year, Tesla began accepting dogecoin as payment for some items available in its online store.