Twitter Bird replaced by $doge

Table of Contents

Join our community

Estimated reading time: 0 minutes

Twitter Bird replaced by $doge

Elon Musk, the billionaire entrepreneur and CEO of SpaceX and Tesla, is known to be a big supporter of Dogecoin (DOGE), a meme coin and Litecoin fork created as a joke and parody of Bitcoin. But how far can jokes go?

Doge Social Media Presence

On April 2, 2021, Musk tweeted that he was the “DogeFather” and posted a picture of a dog on the moon, which sent the price of DOGE soaring. Now, two years later, after acquiring the social media platform Twitter, the sole owner changed the Twitter bird logo to the notorious DOGE – a picture of a Shiba Inu dog.

Doge Home

Price Reaction

This move was seen as a nod to Musk’s support of DOGE and perhaps a day-too-late April Fools’ joke. As a result, the price of DOGE surged by around 30% in a matter of hours, leaving all non-DOGE holders on the sidelines. When we look on-chain we see that the 5th biggest holder has transferred 650M DOGE ($61.3M) out after the sudden price pump. 

Could this move be the start of an epic Dogecoin bull run? Or is it just a tactic to inflate the price by one of the biggest online trolls, Elon Musk?

Disclaimer: Trading and investing in cryptocurrencies (also called digital or virtual currencies, altcoins) involves a substantial risk of loss and is not suitable for every investor. You are solely responsible for the risk and financial resources you use to trade crypto. The content on this website is primarily for informational purposes and does not constitute financial advice.