Elon Musk's decision to replace Twitter's iconic bird logo with an image of a Shiba Inu, the canine mascot of the popular joke cryptocurrency Dogecoin, sent shockwaves through the market yesterday. The sudden change was revealed in a tweet by Musk himself, referencing a conversation from two years ago where he joked about "just buy[ing] Twitter" and changing the logo to a doge.
Just days earlier, Musk had asked a judge to dismiss a $258 billion racketeering lawsuit filed against him, alleging that he used his influence to artificially inflate the value of Dogecoin through a pyramid scheme. Lawyers for Musk and Tesla countered the suit, calling it a "fanciful work of fiction" with no basis in reality.
The decision to replace the bird logo with the Shiba Inu image appears to be a lighthearted gesture by Musk, who has a history of using Twitter as a platform to troll his fans and critics. While it's unclear whether the change will be permanent, the move has already sent Dogecoin soaring.
The price of Dogecoin skyrocketed more than 20% over the past 24 hours, reaching around 9 cents per coin. The cryptocurrency was trading just under 8 cents earlier in the day. Its volatility is a testament to the unpredictable nature of the market for joke cryptocurrencies like Dogecoin.
Created by two software engineers as a tongue-in-cheek joke back in December 2013, Dogecoin has become a cultural phenomenon, with its Shiba Inu mascot and Comic Sans text becoming synonymous with internet humor. The cryptocurrency's popularity is often seen as a symbol of the absurdity and creativity of online communities.
Just days earlier, Musk had asked a judge to dismiss a $258 billion racketeering lawsuit filed against him, alleging that he used his influence to artificially inflate the value of Dogecoin through a pyramid scheme. Lawyers for Musk and Tesla countered the suit, calling it a "fanciful work of fiction" with no basis in reality.
The decision to replace the bird logo with the Shiba Inu image appears to be a lighthearted gesture by Musk, who has a history of using Twitter as a platform to troll his fans and critics. While it's unclear whether the change will be permanent, the move has already sent Dogecoin soaring.
The price of Dogecoin skyrocketed more than 20% over the past 24 hours, reaching around 9 cents per coin. The cryptocurrency was trading just under 8 cents earlier in the day. Its volatility is a testament to the unpredictable nature of the market for joke cryptocurrencies like Dogecoin.
Created by two software engineers as a tongue-in-cheek joke back in December 2013, Dogecoin has become a cultural phenomenon, with its Shiba Inu mascot and Comic Sans text becoming synonymous with internet humor. The cryptocurrency's popularity is often seen as a symbol of the absurdity and creativity of online communities.
. and what's up with dogecoin's price being all over the place? it's like people are just throwing their money at it because of the lolita vibes 
. i'm not saying it's bad, but come on, folks, don't be a sheep following the hype... can we get some real market analysis here instead of just "dogecoin is cool"? 
. I mean, Elon Musk just decides to replace Twitter's iconic bird logo with a Shiba Inu image out of nowhere? It's like he's trying to stir up some meme magic 
. And then you find out that this was something he's been joking about for years, like two years ago when he said "just buy[ing] Twitter" 
.
The market is all about unpredictability, and Dogecoin is proof that you can't always take things seriously in the world of crypto.
right now, and Musk is definitely adding fuel to the fire 
.
but can we pls get back to some actual substance on twitter instead of this joke coin shenanigans? it's like, nice break from the usual drama but also kinda a distraction from what's really going on. ugh
i'm lowkey curious to see how this whole ordeal plays out
I'm not even a huge fan of cryptocurrency but this is just ridiculous. 
. And can we talk about how this is gonna affect Dogecoin for real this time? I mean, 20% in just one day? That's crazy 
It's not like it's going to make people trust the platform more or anything... and honestly, what's up with Dogecoin anyway? 
? Just saying, the Shiba Inu might be cute and all, but it's not exactly a stable currency 
. The market's already being manipulated, so who knows what'll happen next? 