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On April 3, the world’s hottest social media platform, Twitter, altered its profile picture to mirror the picture of a preferred meme token, Dogecoin (DOGE). Only two days earlier, the 51-year-old CEO of Twitter and Tesla, sought a U.S. choose to quash the $258 billion lawsuit filed by buyers accusing the execution of a pyramid scheme to advertise Dogecoin. The buyers alleged that Musk fueled the value of DOGE by way of using a Ponzi scheme.

What Made Twitter Change Its Logo?

While the crypto neighborhood is startled over the sudden Twitter transfer, Elon Musk tweeted a display screen seize of a Twitter thread the place he was seen conversing with the WSB Chairman, a famous inventory dealer. The dialog dates again to the pre-Twitter buyout deal the place he inquired concerning the necessity of a brand new micro-blogging platform that might compete with Twitter as a substitute. In response, WSB remarked to “just buy twitter” and instructed altering the chicken brand to a Dogecoin as a substitute. Following right now’s newest improvement, Musk captioned his tweet with the phrase “as promised”.

Read More: U.S. Justice Department Seizes $112 Million Linked To Crypto Investment Scams

Another group of speculators believes it to be certainly one of Musk’s dire makes an attempt of taking part in the April idiot’s prank — albeit delayed. However, few additionally consider it to be an especially well-thought and sensible transfer by the tech mogul, on condition that Twitter was flooded with jokes and pranks of all sizes throughout industries on April 1. It’s suspected that Musk intentionally executed the prank late so as to take his hundreds of thousands of Twitter customers unexpectedly.

As promised pic.twitter.com/Jc1TnAqxAV

— Elon Musk (@elonmusk) April 3, 2023

DOGE Price Rallies On Twitter Logo Change

As a direct consequence of this, the worth of Dogecoin’s native token, DOGE, surged by roughly 25% because it virtually breached the coveted $0.1 value mark. In addition, the memecoin overtook Polygon (MATIC) in market cap to clinch the eighth place on CoinGape’s crypto market tracker. However, on the time of writing, the price of DOGE skilled slight exhaustion because it dropped by 5.56% and is presently exchanging arms at $0.091.

Also Read: These Three Major Crypto Exchanges Are Merging Into One To Create A Binance Rival?