In a surprising move, Elon Musk updated the Twitter logo to the Dogecoin logo, which sent the price of the Dogecoin cryptocurrency up more than 16% in the past few minutes.

Edited By |Anna Sam

H.Tech

3 April 2023   

      Twitter seems to have been acquired by Elon Musk in turn taking over the image of Dogecoin, with users around the world reporting the change as the 17-year-old "bird" logo on Twitter was quickly updated. to the emblem of the Shiba Itō, a prominent dog breed that has its roots in Japan.

Elon Musk has long been a supporter of Dogecoin and has, directly and indirectly, promoted the cryptocurrency via his micro-blogging site. From literally sending the coin to the moon, to accepting it as payment for buying Tesla goods, Musk hasn't shied away from showing his fondness for the coin, which is currently valued at a market value of $13 billion. Now, the 51-year-old tech mogul has taken it a step further and changed Twitter's trademark.

As a result, the price of Dogecoin is currently trading at $0.096, which represents a 25% increase in the last 30 minutes compared to a 20% increase in the last 24 hours.
Musk's move follows his request that a US judge on Friday drops a $258 billion extortion lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin.

      During the lawsuit, which was held in Manhattan federal court, attorneys for Musk and his electric car maker Tesla described the lawsuit filed by Dogecoin investors as a "work of fiction" about Musk's "harmless and often ridiculous tweets" about Dogecoin.

The lawyers said the investors never explained how Musk intended to defraud anyone or what risks he concealed, and that his statements about the business do not confirm the act of fraud.
“There is nothing illegal in tweeting words of support or funny pictures about a legitimate cryptocurrency that still holds a market capitalization of close to $10 billion,” Musk's lawyers said. This court must put an end to the illusions of the plaintiffs and dismiss the complaint.”

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