Elon Musk's Twitter Takeover: A Cryptocurrency Power Play?
In a move that has sent shockwaves through the cryptocurrency world, Tesla CEO Elon Musk replaced Twitter's iconic bird logo with an image of a Shiba Inu dog - a nod to Dogecoin, a joke cryptocurrency at the center of a $258 billion racketeering lawsuit. The sudden change on Monday afternoon appeared to be a response to a year-old conversation where another user suggested that Musk "just buy Twitter" and "change the bird logo to a doge."
Musk's decision was met with an unexpected boost, as Dogecoin's price surged more than 20% over the past 24 hours. The cryptocurrency, initially created in December 2013 by two software engineers as a joke, has been volatile in recent times.
The lawsuit, filed by Dogecoin investors, accuses Musk of running a pyramid scheme to support the currency. However, lawyers for Musk and Tesla have dismissed the claims as "fanciful work of fiction" over Musk's "innocuous and often silly tweets."
While it remains unclear whether the logo change will be permanent, one thing is certain: Dogecoin is now more popular than ever. The Shiba Inu mascot that accompanied the new Twitter bird has become a rallying symbol for cryptocurrency enthusiasts.
Musk's Twitter takeover may not have been an accident; it could be seen as part of his ongoing game of cat and mouse with his fans and critics. As the price of Dogecoin continues to soar, one thing is certain - Musk's influence on social media is undeniable.
In a move that has sent shockwaves through the cryptocurrency world, Tesla CEO Elon Musk replaced Twitter's iconic bird logo with an image of a Shiba Inu dog - a nod to Dogecoin, a joke cryptocurrency at the center of a $258 billion racketeering lawsuit. The sudden change on Monday afternoon appeared to be a response to a year-old conversation where another user suggested that Musk "just buy Twitter" and "change the bird logo to a doge."
Musk's decision was met with an unexpected boost, as Dogecoin's price surged more than 20% over the past 24 hours. The cryptocurrency, initially created in December 2013 by two software engineers as a joke, has been volatile in recent times.
The lawsuit, filed by Dogecoin investors, accuses Musk of running a pyramid scheme to support the currency. However, lawyers for Musk and Tesla have dismissed the claims as "fanciful work of fiction" over Musk's "innocuous and often silly tweets."
While it remains unclear whether the logo change will be permanent, one thing is certain: Dogecoin is now more popular than ever. The Shiba Inu mascot that accompanied the new Twitter bird has become a rallying symbol for cryptocurrency enthusiasts.
Musk's Twitter takeover may not have been an accident; it could be seen as part of his ongoing game of cat and mouse with his fans and critics. As the price of Dogecoin continues to soar, one thing is certain - Musk's influence on social media is undeniable.