Elon Musk changed the Twitter logo for the image of the Dogecoin dog and the cryptocurrency grew by 20%


Last Monday, Twitter users got a big surprise when they opened the social network: the historic blue bird logo had been replaced by the image of a dog, popularly known for being used in comparative memes. The owner of the platform Elon Musktweeted a joke alluding to the change, although he did not explain the reasons, nor did he say if the image will remain permanently.

Meanwhile, users are speculating that the change could be due to a tycoon’s attempt to reposition Dogecoina cryptocurrency of unlimited emission that was created in the year 2013 by the programmer Billy Markus and who has a strong relationship with Musk. Not a far-fetched thought, considering that since the makeover, Dogecoin had a revaluation greater than 20% on the market (from €0.070 on Monday, April 3 at 5:00 p.m., to €0.094 on Monday, April 3 at 7:00 p.m.).

The relationship between the dog, Dogecoin and Elon Musk

The dog in the photo is a Hong Kong Shiba Inu breed, it is real and corresponds to the Instagram account @balltze. His image became popular by starring in various memes comparing people, times, and situations represented ironically: the Twitter dog would represent the “weak” part and the image of a muscular dog would represent the “strong” part. Now the dog is known as Cheems.

But also, the image is the visible face of Dogecoina cryptocurrency that emerged in 2013 based on Bitcoin and in which Elon Musk always showed strong economic interests.

In fact, the tycoon had already been accused in June 2022 to make a Ponzi scheme with Dogecoin, promoting it a year earlier on Twitter encouraging people to invest in it and clarifying that Tesla accepted it as a form of payment.

Also, Musk promoted it on the famous North American program, Saturday Night Live and in another tweet from April 2021 in which he showed an image of the artist Joan Miró, Dog barking at the moon, with the phrase “Doge barking at the moon.” At that time, the revaluation was 100%.

What is believed is that the businessman made a speculative play It is known as “pump and dump”, which is that when an asset is undervalued, it is advertised talking about a potential value that it does not really have with the aim of manipulating investors to bet and inflate the value of the asset. Once it reaches a high yield threshold, the group of investors, like Musk, withdraw from the market and cause the asset to plummet, generating huge losses for those who believed in the initial hype.

that was exactly the class action that Musk received from Keith Johnson, one of those harmed for believing his Musk predictions. More specifically, Johnson sued the businessman, Tesla and SpaceX -another of the magnate’s companies- on behalf of various affected parties who They claimed 245,000 million euros for damages. The lawsuit is still current and without resolution.

Musk does not respond, but gives signs

Although Elon Musk did not explain the reason for the change, nor did he say if it would be definitive, his latest tweet says “As promised” and shows the image of an old conversation via Twitter with the profilel@Chairman. The billionaire wondered, “Is there a need for a new social network?”, to which @Chairman replied, “Buy Twitter,” and then, “and change the bird logo to a doge.” The idea liked Musk, who replied: “Haha. That would be milk. Yesterday, he finally did it. The question is if this change is simply due to a joke or if there is something much bigger behind it.

With Musk you never know.

News under construction. We will expand.

Photo: Depositphotos.

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