Twitter users on web noticed on Tuesday that the platform’s trademark blue bird logo had been replaced by the Shiba Inu dog of Dogecoin cryptocurrency fame.
The Dogecoin cryptocurrency was a top ten cryptocurrency on Monday. It was initially created as a joke in 2013, but exploded in popularity and has become a popular crypto asset for traders to hold, with a market capitalisation in the billions of dollars.
The news comes as Mr. Musk reportedly asked a judge to throw out a $258 billion lawsuit that alleged the Tesla billionaire was part of a pyramid scheme to inflate the price of Dogecoin before bursting the bubble. Mr. Musk’s lawyers denied claims that the Twitter chief’s tweets in support of the cryptocurrency constituted fraud.
The DOGE cryptocurrency rallied by more than 20% in the last 24 hours.
Screenshot of Dogecoin’s rising price in the past day | Photo Credit: CoinMarketCap
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In the cryptocurrency community, Mr. Musk is referred to as the “Doge-father” and has previously advocated for DOGE holders when they faced trading difficulties with the crypto exchange Binance.
Mr. Musk also made several Tesla products available for purchase with Dogecoin.
