Elon Musk changes Twitter’s logo to DOGE. The meme token reacts by rising 68%

After that, the billionaire wrote that he did “as promised”

04.04.2023 - 07:25

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What’s new? The rate of Dogecoin (DOGE) has jumped by 67,9% in the last 24 hours to $0,105. This happened after Twitter’s new CEO Elon Musk changed the logo of the social network to the image of a dog of the Shiba Inu breed, which is the mascot of the meme token. Later, in his tweet, he wrote that he did “as promised.” As of April 4, 06:55 UTC, the asset had corrected to $0,09871, according to Binance.

As promised pic.twitter.com/Jc1TnAqxAV
— Elon Musk (@elonmusk) April 3, 2023

What is known about DOGE? The meme cryptocurrency was created in 2013 by Billy Markus and Jackson Palmer. In September, DOGE became the second most capitalized cryptocurrency on the PoW algorithm. It ranks in the overall cryptocurrency ranking with a capitalization of $13,8 billion.

Dogecoin - what is this?

This cryptocurrency confidently occupies the top positions in terms of frequency of references on the network, not much inferior to bitcoin or, for example, Ethereum

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Twitter and DOGE. In March last year, during correspondence with Musk, a trader under the nickname WSBChairman offered the billionaire to buy Twitter and change the logo for the image of DOGE. Back then Musk said it would be “sickkk,” and two months later bought the social network for $44 billion.

On March 23, DOGE rose by 4% after Musk offered to pay a subscriber in meme coin for access to Twitter’s headquarters.

Earlier, the billionaire said he would eat a Happy Meal live on television if McDonald’s started accepting Dogecoin as a payment option. After that, lawyer John Deaton warned that the US Securities and Exchange Commission (SEC) may classify DOGE as a security.