Suddenly everything is different: Twitter has changed its logo! Instead of the blue bird, a dog’s head can now be seen on the social network.
Billionaire’s online service Elon Musk (51) changed the logo to the image without any explanation. What is known, however, is that the dog’s head stands for the cryptocurrency Dogecoin.
Above left: the dog’s head as the new Twitter logo. The emblem was only swapped on the Twitter website, not in the app
The price of the coin has been in the basement for a long time – but after the logo change on Monday evening it rose by up to 31 percent. Now a Dogecoin is suddenly worth 9 cents, before it was only 7 cents. For comparison: At its peak in spring 2021, the price was over 60 cents for a short time.
Dogecoin is parody currency
Actually, the Dogecoin was only intended as a parody. Programmers Billy Markus and Jackson Palmer created it in 2013 to poke fun at the crypto market. It is now the seventh largest digital currency!
Palmer himself said years ago that he could hardly understand the hype of the cryptocurrency – at that time the Dogecoin cracked the total value of two billion dollars. Musk also showed himself to be a fan again and again.
The currency’s name is derived from the English term for dog (“dog”), as Dogecoin’s symbol is an Asian species of dog – a Shiba Inu. This symbol, in turn, was once a commonly used fun image (“meme”) on the Internet.
Musk had repeatedly caused price jumps in Dogecoin with his own tweets. When the value collapsed, an investor sued the current Twitter boss. Allegation: Musk was part of an illegal Ponzi scheme. This first drove up the Dogecoin price and then caused it to crash.
Musk’s attorneys filed a motion to dismiss the lawsuit just last week. The cryptocurrency is a legitimate investment object with a total value of around ten billion dollars, they argued. End of litigation: open. Meanwhile, Musk happily continues to joke with the canine currency.