Elon Musk's tweetstorm has sparked an unexpected price surge for Dogecoin, the joke cryptocurrency he's been at the center of a lawsuit over. The billionaire CEO replaced Twitter's iconic bird logo with an image of a Shiba Inu, the breed behind Dogecoin, in a move that appears to be a nod to his own affinity for the cryptocurrency.
Musk has long been a vocal supporter of Dogecoin, despite being sued by investors who claim he's using it as a means to manipulate the market. The lawsuit alleges Musk is running a pyramid scheme and that his tweets are designed to inflate the price of Dogecoin. However, lawyers for Musk and Tesla have dismissed the claims, calling them "fanciful work of fiction" that fail to hold up under scrutiny.
In response to the criticism, Musk tweeted that he had "promised" to make the change to the logo, referencing a conversation from last year in which another user suggested he simply buy Twitter and replace the bird with a Shiba Inu. The image has since appeared on Twitter, along with other changes to the platform.
The price of Dogecoin has responded accordingly, surging more than 20% over the past 24 hours to around 9 cents per coin. It's trading at just under 8 cents after Musk asked a judge to throw out the lawsuit earlier this week.
While it's unclear whether the logo change is permanent, one thing is certain: Dogecoin has seen a significant price bump in recent days, and its fans are celebrating. The cryptocurrency was created back in December 2013 by two software engineers as a joke, with its name and mascot drawing inspiration from the popular "doge" meme that emerged around the same time.
For Musk and his supporters, the move is just another example of how he's willing to shake things up and defy expectations. Love him or hate him, one thing's for sure: Elon Musk knows how to generate attention – and sometimes, that attention comes in the form of a Shiba Inu logo on Twitter.
Musk has long been a vocal supporter of Dogecoin, despite being sued by investors who claim he's using it as a means to manipulate the market. The lawsuit alleges Musk is running a pyramid scheme and that his tweets are designed to inflate the price of Dogecoin. However, lawyers for Musk and Tesla have dismissed the claims, calling them "fanciful work of fiction" that fail to hold up under scrutiny.
In response to the criticism, Musk tweeted that he had "promised" to make the change to the logo, referencing a conversation from last year in which another user suggested he simply buy Twitter and replace the bird with a Shiba Inu. The image has since appeared on Twitter, along with other changes to the platform.
The price of Dogecoin has responded accordingly, surging more than 20% over the past 24 hours to around 9 cents per coin. It's trading at just under 8 cents after Musk asked a judge to throw out the lawsuit earlier this week.
While it's unclear whether the logo change is permanent, one thing is certain: Dogecoin has seen a significant price bump in recent days, and its fans are celebrating. The cryptocurrency was created back in December 2013 by two software engineers as a joke, with its name and mascot drawing inspiration from the popular "doge" meme that emerged around the same time.
For Musk and his supporters, the move is just another example of how he's willing to shake things up and defy expectations. Love him or hate him, one thing's for sure: Elon Musk knows how to generate attention – and sometimes, that attention comes in the form of a Shiba Inu logo on Twitter.
I think it's pretty cool that Dogecoin is getting some extra love from Elon Musk 
. Like, who wouldn't want their cryptocurrency to be more fun and quirky? And yeah, maybe the lawsuit thingy was just a publicity stunt, but at least he's not ignoring his fans entirely 
. The logo change might be temporary, but it's definitely given Dogecoin some serious momentum 
. Maybe Musk is trying to prove that even a "joke" cryptocurrency can have some real staying power 
. Whatever the reason, I'm just glad I got to relive some old memories of the doge meme from back in the day 
now everyone's gonna be like "I told you so" but honestly who doesn't wanna see a shiba inu on twitter tho? 
Musk just likes to stir up drama and get attention – that's what makes him so entertaining 
! Like, he's just trolling us with this lawsuit thingy, and we're buying into it hook line & sinker 
? I mean, come on, Musk, stop trying 2 be the king of Dogecoin 
. Just because Musk tweeted about changing the bird logo to a Shiba Inu doesn't mean he's secretly trying to manipulate Dogecoin prices. I mean, come on, 20% surge in just 24 hours? That's some wild speculation right there 
. And what really gets me is that people are celebrating like it's a legit move from Musk 
. Newsflash: if you're making a joke out of a cryptocurrency and then suddenly its price is skyrocketing, something fishy is going on. Let's keep a level head here 
.
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. I'm all about free speech, but come on, who expects Elon Musk's tweets to affect the price of Dogecoin? 
. And those fans of Dogecoin are going wild 
, like they're on some sort of cryptocurrency rollercoaster 
. Love him or hate him, Elon Musk knows how to stir the pot... but will this be a good thing for Dogecoin in the long run? Only time will tell 
.
Dogecoin is literally going CRAZY after that tweetstorm from Elon Musk! Like 20% surge in just 24 hours? That's insane 
And can we talk about how cute the Shiba Inu logo is? It's like he's trying to make us all smile 
I don't care what people say about the lawsuit, this move has clearly gotten people HYPED 
And let's be real, who doesn't love a good underdog story? 
The fact that it was created as a joke back in 2013 and now it's worth 9 cents per coin is just MIND. BLOWING 
and btw, if he wants to keep dogecoin afloat, maybe he should just buy twitter already lol 
. If you're feeling the Dogecoin vibe, then more power to you! It's a reminder that in the world of crypto, anything can happen and you gotta be ready to adapt.
. And honestly, I kinda love how unpredictable he is – it's like he's always playing by his own rules 
. Love him or hate him, it's hard to deny that the man is a master of self-promotion 
!
, but still... Can we focus on actual innovation instead of just hype?
, and it seems like his Shiba Inu logo switch has done the trick 
. Can we expect more surprises from Musk in the future?