The cryptocurrency dogecoincreated in 2013 as a joke, shot up this Monday after Twitter replaced its usual blue bird logo with the image of a dog of the Japanese shiba inu breed associated with this product.
The price of the dogecoin came to rise more than 26% in an apparent reaction to this movement of the company Elon Muskwhich in the past has already often promoted this cryptocurrency, even accepting for the purchase of accessories from Tesla, the electric vehicle company that it runs.
The billionaire has said on more than one occasion that he owns dogecoins and last year he was sued by an investor who accused him of illegally inflating the price of the cryptocurrency, one of the most volatile on the market.
At the close of the stock market last Friday, dogecoin was trading almost 90% below its all-time highwhich it reached in May 2021.
This Monday, Twitter replaced its usual logo in its web version with the image of the shiba inu, a popular meme for years on the internet as a result of which the cryptocurrency was created.