Elon Musk's latest move on Twitter has sent shockwaves through the cryptocurrency market, with Dogecoin surging over 20% in value following the replacement of the platform's traditional bird logo with an image of its own mascot - a Shiba Inu.
In a tweet that seemed to confirm his involvement in the joke currency, Musk stated "as promised" above an old conversation thread from last year where another user suggested he simply buy Twitter and replace the bird logo with Dogecoin. The move was seen as a cheeky nod to the controversy surrounding the cryptocurrency's alleged pyramid scheme.
However, not everyone is amused. Lawyers for Tesla and Elon Musk have described the lawsuit filed by dogecoin investors as "fanciful work of fiction" over what they claim are innocent tweets. Meanwhile, it remains unclear whether the logo change will be permanent, with Musk known to use Twitter to troll both fans and critics.
Despite the controversy surrounding Dogecoin, its value has skyrocketed, jumping from under 8 cents earlier this week to nearly 9 cents in just 24 hours. The cryptocurrency was created back in December 2013 by a pair of software engineers as a joke, with its name and mascot inspired by a popular internet meme.
It seems Musk's latest move has given Dogecoin a new lease on life, and only time will tell if this is more than just a publicity stunt or the start of something new for the cryptocurrency.
In a tweet that seemed to confirm his involvement in the joke currency, Musk stated "as promised" above an old conversation thread from last year where another user suggested he simply buy Twitter and replace the bird logo with Dogecoin. The move was seen as a cheeky nod to the controversy surrounding the cryptocurrency's alleged pyramid scheme.
However, not everyone is amused. Lawyers for Tesla and Elon Musk have described the lawsuit filed by dogecoin investors as "fanciful work of fiction" over what they claim are innocent tweets. Meanwhile, it remains unclear whether the logo change will be permanent, with Musk known to use Twitter to troll both fans and critics.
Despite the controversy surrounding Dogecoin, its value has skyrocketed, jumping from under 8 cents earlier this week to nearly 9 cents in just 24 hours. The cryptocurrency was created back in December 2013 by a pair of software engineers as a joke, with its name and mascot inspired by a popular internet meme.
It seems Musk's latest move has given Dogecoin a new lease on life, and only time will tell if this is more than just a publicity stunt or the start of something new for the cryptocurrency.
i'm lowkey impressed 
with elon musk's latest move 
it's like he's trying to make dogecoin cool 
again, and it kinda works 
lol, who knew a shiba inu face could be so fetch 
anyway, i'm not surprised that lawyers are hating on him 
for this one, but at the same time, can't we just enjoy the ride? 
dogecoin's value is like crazy 
and it's kinda awesome seeing a joke currency get taken seriously 
fyi, if musk does end up keeping the logo change, i'm all for it 
dogecoin is now surging like crazy (over 20% in value!) and everyone's talking about it 
but at the same time, lawyers for tesla are like "um no this isn't a big deal" 
meanwhile musk's just trolling as usual, using twitter to mess with people 
apparently it started back in 2013 as a joke and now it's kinda famous 
i mean i've seen some crazy stuff happen on Twitter but this one takes the cake... like dogecoin was literally dying and then boom, shiba inu logo and it's surging like 20% in value lol... is elon messing with us or has he actually got a plan for dogecoin 
meanwhile, i'm not surprised that lawyers are trying to shut it down, they're just mad cuz musk's trolling them again 
! #DogecoinRising #MuskTrollLife #CryptoSensation
. But seriously, if it's going to be permanent, that would be awesome! Dogecoin was always meant to be a joke currency, but now it's actually gaining traction 
. The value is crazy, and I'm curious to see what happens next 
.
and honestly, I don't blame them - this is the most fire thing Musk has done since Neuralink 
! One minute it's surging like crazy 
And now Musk is using Twitter to troll both sides of the coin 
. I'm not saying Dogecoin won't go up again, but let's keep a level head here... we don't wanna get caught in a frenzy 
. What do you guys think? Am I just being cautious or what? 
i drew a quick diagram to show how much its value has increased 
i hope it stays that way tho, don't wanna be left wondering if he's just messing with us again 
. I mean, come on, it's just a joke currency that was created as a meme. But no, now everyone's all invested and hyped about it 
. Meanwhile, Dogecoin investors are raking in the dough 
I'm not sure if it's just a publicity stunt or something more, but it's definitely given Dogecoin some serious momentum