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Musk replaces Twitter logo with Dogecoin mascot dog, boosting cryptocurrency's value

By: Maksim Panasovskiy | 04.04.2023, 11:37

The Dogecoin cryptocurrency rose in value after US billionaire Elon Musk replaced the social network Twitter logo with a Dogecoin mascot. The value went up by a quarter.

Here's What We Know

An image of a Shiba Inu dog named Kabosu, which has become a meme, is featured on the service's loading screen, among other things. The cryptocurrency went up 25% in one day after the Doge meme appeared on Twitter. The price is now around $0.1 and the market capitalisation is 13.7bn.

A $258 billion lawsuit was filed against Elon Musk in the summer of 2022. The billionaire is accused of creating a pyramid scheme and manipulating the value of the cryptocurrency. Lawyers are asking the court to dismiss the lawsuit because the plaintiffs have not provided any evidence for a year.

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