Dogecoin price rockets by 33% after Elon Musk changes Twitter logo

Twitter underwent a slight makeover on Monday that led Dogecoin prices to surge by up to 33%.

Elon Musk seemingly changed Twitter’s logo from the famous blue bird to the Doge meme featuring a Shiba Inu named Kabosu.

Desktop versions of Twitter featured the cartoon of the dog in the loading image as well as in the top right-hand corner.

Subsequently, the price of Dogecoin skyrocketed.

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The Doge meme is the logo of the “meme coin” cryptocurrency Dogecoin which was originally created as a “joke” in 2013.

Around 12:30 pm EST, the price of Dogecoin was $0.0771 but just before 2 pm it had risen to $0.1026.

Musk tweeted a meme about the logo around 3 pm, acknowledging the change. However, he did not clarify his reasoning for changing Twitter’s logo nor if it was going to last.

The Twitter CEO has been known to engage with the Doge meme often.

Often, when Musk does tweet about Doge, people will flock to Dogecoin and raise the price,, believing Musk to be endorsing the cryptocurrency.

Investors have accused Musk of artificially manipulating the price of Dogecoin and even filed a lawsuit against the Tesla CEO.

The Doge logo introduction comes days after Musk requested a judge throw out the $258 billion lawsuit accusing him of running a pyramid scheme to support Dogecoin.

In a filing, Musk and his lawyers called the lawsuit a “fanciful work of fiction,” adding that Musk’s tweets about Dogecoin are “innocuous” and “often silly.”

“There is nothing unlawful about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency that continues to hold market cap of nearly $10 billion,” Musk’s lawyers said.

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