Dogecoin has been on a sharp rise since Twitter changed its logo to a shiba inu dog. The value of the cryptocurrency, which Twitter owner Elon Musk has long been fascinated by, has increased by as much as 30 percent.
Everyone browsing Twitter is greeted with a version of the well-known hound breed. The shiba inu is – not coincidentally – also a token for Dogecoin.
Meanwhile, Musk tweeted a cartoon showing the dog ID with the Twitter logo as an image at a traffic control center. “It’s an old picture,” the dog apologizes.
An hour later, he posted a screenshot of a previous discussion with another user on Twitter. The option to modify the logo was also discussed.
Elon Musk
@employee
However, Musk is also being sued for encouraging Dogecoin too much. According to investors, by constantly tweeting about dogecoin, Musk raised the price by 36,000 percent and then crashed the price.
This would have earned the CEO of Tesla and SpaceX billions himself, while costing other investors a lot of money. They now want $258 billion (€237 billion) in damages, three times the estimated drop in the market value of all Dogecoins in circulation.
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