Turn up the volume when Elon Musk speaks bread dogecoin This has already happened in the past, and yesterday the value of this cryptocurrency suddenly rose again when the traditional Twitter logo with the silhouette of a little blue bird was replaced by the dogecoin logo with the head of a Shiba Inu dog.

What happened. Yesterday the Twitter web client, loading screen and main interface suddenly started showing the icon of the Shiba Inu breed Kabosu that inspired the Doge meme. Thus, the traditional Twitter logo temporarily disappeared, and a message from Elon Musk on Twitter at the time jokingly confirmed this change.

pic.twitter.com/wmN5WxUhfQ

— Elon Musk (@elonmusk) April 3, 2023

Dogecoin raises its value. This change in the Twitter logo resulted in an extraordinary increase in the value of the dogecoin cryptocurrency. At 19:30 CEST, the value was around $0.077, but shortly after that, it increased by about 25% to exceed $0.10. Although the value may drop in the later hours, it is currently very close to the $0.10 limit.

Micropayments with Dogecoin? One of the theoretical projects surrounding Twitter since Elon Musk took over the platform is to turn it into a kind of neobank. With advertising in free fall and the Twitter Blue debacle, the billionaire continues to look for alternative revenue streams and being able to make person-to-person payments on Twitter is being considered an option. Dogecoin, a long-launched cryptocurrency by Musk, can come into play here.

Um, why is the Dogecoin image taking over Twitter? pic.twitter.com/LCzuSpfvmz

Matt Novak (@paleofuture) April 3, 2023

Ponzi scheme accusation. These events coincide with the demand that Musk made in Manhattan federal court last Friday: that he denied the accusation that he promoted a pyramid scheme with Dogecoin. The coin was criticized by the founder of Ethereum and a single person is known to hold about 30% of all dogecoin. Even the creators of this “memecoin” have given up on this and other cryptocurrencies.

That lawsuit threatened $258 billion in fines, but his lawyers described the lawsuit as “fantasy fiction” and said Musk never intended to defraud anyone. “There is nothing illegal about tweeting supportive words or funny pictures about a legitimate cryptocurrency,” they said.

change continues. Hours later, Twitter continues to show this change in the web client, although logos are traditional in the mobile app. Musk may just be wanting to “troll” the plaintiffs, but in any case, the value of dogecoin remains relatively stable for the moment after the spike caused by this action.

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