Source: Isaiah Richard/Tech Times
It is an end of an era for the blue bird logo-or at least temporarily, as Twitter can now be seen sporting the Dogecoin logo, best known for featuring the Shiba Inu mascot of the cryptocurrency. This is amidst the controversial lawsuit against Twitter CEO, Elon Musk, particularly for his ties to Dogecoin and alleged racketeering tactics to rally for the coin.
Amidst this, Dogecoin is seeing a significant jump, with as much as a 30 percent rise in its valuation in the current crypto market, thanks to Musk’s meme fulfillment on the social media.
One of the perks of being the owner of a company is getting the chance to do anything with it, and this is what multi-tech CEO and billionaire Elon Musk did with Twitter now. Instead of seeing the blue bird logo when venturing to the platform, one would see the Shiba Inu mascot of Dogecoin, the famed meme cryptocurrency that its owner supports.
This is also a significant time for Musk and Dogecoin, as Chief Tweet is facing a lawsuit for alleged racketeering and pyramid schemes with the crypto, to boost its valuation in the market.
In the latest tweet of the Twitter leader, he posted a screenshot about a conversation he had with a follower, asking him to change the blue bird logo to Doge, and after the change, he said “as promised.”
According to CNBC, this stunt of the tech CEO has significantly contributed to a 30 percent jump in Dogecoin’s valuation, amidst Musk asking a judge to dismiss this lawsuit against his name.
As per CoinMarketCap, Dogecoin is now at the 8th spot in the charts, with a significant jump from $0.07678 to the now $0.09745.
Elon Musk and Dogecoin
Elon Musk has shown his fondness of Dogecoin for many events in the past and has been an avid supporter of the meme cryptocurrency since its early days, up to its downward trend, and until the present. The tech CEO has been with Doge through its ups and downs and has exhibited its support to the world, as shown on his Twitter account.
Back in 2022, the initial proceedings of the $258 billion lawsuit were filed against the tech mogul, for his alleged racketeering scheme and actions which helped Dogecoin gain traction and popularity.
Still, several of his companies including Tesla and The Boring Co.’s Vegas Loop tunnel are continuing their acceptance of the meme coin for payments to purchase a car or hail a ride in its service.
The lawsuit against Musk and his ties to Dogecoin is now resurfacing, and instead of seeing the CEO clamor about the significant charges against him, he is using this time to fulfill a promise from before. With Doge now being the face of Twitter, it will continue to rally and see its valuation increase, unknown as to when Musk will revert to the original blue bird logo.
Source: Isaiah Richard/Tech Times
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