The bird came out of its cage… or else it was eaten by a dog! Elon Musk changed the logo of Twitter and the eternal blue bird was replaced by a beige dog. Just a joke from the whimsical billionaire or real change? There is still doubt, but in the meantime, this decision has caused the price of dogecoin, a cryptocurrency with the famous beige dog logo, to soar from $0.08 to more than $0.10, an increase of more than 20%. .
The owner of Twitter, which has 133 million followers, has long used the platform for self-promotion and humor, sometimes in favor of dogecoin, a highly volatile cryptocurrency originally created as a joke. Launched in 2013, it was a tongue-in-cheek response to two web phenomena: cryptocurrencies, which were proliferating in the wake of bitcoin, and photo montages of a Shiba Inu dog that were widely taken up on the internet.
Boosted by a certain buying frenzy around improbable values at the start of 2021, as well as by the multiple positive messages of Elon Musk on Twitter, the dogecoin had soared to more than 70 cents in May 2021. Before starting to back down shortly after a satirical show aired in which the billionaire called virtual currency a “scam” in a sketch.
An investor who lost money betting on dogecoin filed a lawsuit in June 2022 seeking $258 billion from Elon Musk and his companies Tesla and SpaceX, but the billionaire denied the claims.
Twitter’s logo change prompted a slew of posts featuring the dog, including from Elon Musk himself, who posted a conversation with a user on the social network from last year. in which he promised to buy Twitter and make the Shiba Inu his logo.
As promised pic.twitter.com/Jc1TnAqxAV