By changing the Twitter logo, Elon Musk makes the dogecoin jump
The logo of the dogecoin, whose dog Shiba Inu currently replaces the blue bird of Twitter by decision of Elon Musk. AP - Richard Drew
Text by: RFI Follow
2 min
This is Elon Musk's latest stunt. The eccentric owner of Twitter has replaced, probably temporarily, the logo of his social network with a head of Shiba Inu, making the dogecoin, the cryptocurrency associated with this portrait of Japanese dog very popular a few years ago on the Internet.
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The blue bird, symbol of Twitter since the beginnings of the social network, no longer appears on the site at this time. Whether definitive or not, humorous or not, a Shiba Inu dog avatar currently occupies its place.
The consequence did not take long on Tuesday, April 4, since the cryptocurrency dogecoin, to which this avatar is associated, saw its price jump by $ 0.08, to reach $ 0.10, an increase of 20%.
And just after, the course of Dogecoin soars.
Like every time Musk promotes it. https://t.co/2Zt4U6u6Wh pic.twitter.com/Z5Ss1ykeJg
— Tristan Mendès France (@tristanmf) April 3, 2023
In 2013, Elon Musk launched the dogecoin as a joke, in response to two trends in vogue on the Internet: cryptocurrencies, which were multiplying following bitcoin, and the swarming montages of these dogs.
The owner of Twitter, which has 133 million followers, has long used the platform for self-promotion and humor, sometimes for dogecoin, a cryptocurrency that remains highly volatile.
This tool had been boosted by a buying frenzy around unlikely values in early 2021, and by positive messages from Elon Musk on Twitter. Dogecoin had soared to more than 70 cents by May 2021.
Then the value of the cryptocurrency began to decline, shortly after the broadcast of a satirical show in which the billionaire described in a sketch the virtual currency as a "scam".
pic.twitter.com/wmN5WxUhfQ
— Elon Musk (@elonmusk) April 3, 2023
An investor who lost money betting on dogecoin filed a lawsuit in June 2022 to claim $258 billion from Elon Musk and his companies Tesla and SpaceX in this case.
The troublemaker Musk reassembled on his wall a conversation he had had the previous year with a user, he promised to buy the platform and make the Shia Inu, his favorite dog, the new logo of the network.
As promised pic.twitter.com/Jc1TnAqxAV
— Elon Musk (@elonmusk) April 3, 2023
►Listen: Dogecoin, the parody of bitcoin, in the big leagues
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