- Dogecoin (DOGE) Price Explodes – Dogecoin experienced a 25% pump in price after Twitter changed their logo to the Doge meme.
- Elon Musk’s Involvement – Elon Musk, the CEO of Twitter, is a long-time fan of Dogecoin and has had an effect on its price in the past.
- Twitter Logo Change – The bluebird that used to appear on Twitter’s loading page has been replaced by an icon of Doge and other locations also feature images of the coin.
Dogecoin (DOGE) Price Explodes 25% After Elon Musk Changes Twitter Icon to Doge Meme
Dogecoin (DOGE) predictably pumped as a result when Twitter’s main logo abruptly changed on Monday into a picture of the infamous “Doge” meme. The cryptocurrency is up 25% in the past hour, now trading for $0.1.
Elon Musk’s Involvement
When logging into Twitter, users are now met with an icon of Doge instead of a blue bird that used to appear on Twitter’s loading page. Meanwhile, the similar icon used to return to one’s homepage Twitter feed in the upper left corner of the desktop browser has also been replaced by the notorious dog meme. The login page is different too, with a massive picture of Doge now covering any traces of the old blue bird that used to appear when creating an account.
Dogecoin traded for just $0.076 at 13:05 UST on Monday before skyrocketing after this sudden change initiated by Elon Musk – who became CEO of Twitter last year – and his longtime affinity for Dogecoin which he demonstrated again through his own tweet following this alteration.
The Effect On Price Movement
Musk briefly brought DOGE into crypto’s top 3 coins back in 2021 through a series tweets about it and had since shown an uncanny ability to positively affect its price whenever he gives it his good word; such as when DOGE soared 15% after he tweeted about it in May 2021.
It remains unclear if this recent surge in DOGE was caused by investors buying up based on speculation or if Elon Musk himself was behind this pump; however what is certain is that seeing as how much influence he wields over its price movement, those invested may want to be cautious going forward as further volatility could be expected due to his sporadic involvement with crypto assets like DOGE or even Bitcoin itself.