Dogecoin (DOGE) price surged more than 30% within minutes and managed to grab all the attention.
In a surprising move today, Twitter’s iconic bird logo was replaced with Doge. The logo change caused the price of Dogecoin to increase.
The change comes after billionaire Elon Musk bought the social media giant in October 2022 in a $44 billion deal. After this change, Elon Musk is about the development the following shared:
NEWS CONTINUES BELOW— Elon Musk (@elonmusk) April 3, 2023
The Doge logo change and Musk’s post received mixed reactions from Twitter users. Some find this change in line with Musk’s sense of fun. Some users are also questioning whether this is a belated April Fools’ joke.
Fortune reporter Leo Schwartz interpreted the change as a distraction tactic from the ongoing Twitter Blue controversy.
Besides, the meme coin price increased by 33% from $0.07663 to $0.1026.
Elon Musk and Dogecoin
Elon Musk is often associated with this cryptocurrency due to his statements and social media posts about DOGE. Musk has recommended Dogecoin to his followers many times, stated that he supports it, and even said that some companies should accept payments with Dogecoin.
Especially in recent years, Musk’s interest in Dogecoin has increased and he has shared Dogecoin many times, causing its price to increase. However, while these shares of Musk are criticized by some, others see it as an important factor in Dogecoin’s growing popularity.
In summary, there is a tight relationship between Elon Musk and Dogecoin, and Musk’s statements can have a significant impact on the price of Dogecoin.
You can check the price movements here.