Dogecoin Price Up As Elon Musk Uses Shiba Inu Doge As Twitter Logo

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Twitter users just discovered that the Twitter bird logo is no more, as a cartoon picture of the famous Shiba Inu Doge has replaced it. On April 3, the giant social media platform, Twitter, changed its icon to a popular meme token Dogecoin. Following these changes, the Dogecoin price has shot up by 19.35%. At press time, Dogecoin was trading at 0.09427, according to trading view data.

Doge Price Chart. Source: Tradingview.com

Reportedly, two days prior, the platform and Tesla CEO, Elon Musk, asked a United States judge to dismiss a $258 billion suit filed by investors. The suit claimed the operation of a pyramid scheme to promote Dogecoin. The CEO’s attorneys argued that the ”funny pictures” and tweeting words of support do not equate to a fraud claim.

Notably, since Musk took over as the CEO of the Twitter platform, he promised more integration with cryptocurrency. He has also been a Dogecoin booster, with his tweets frequently impacting the value of the cryptocurrency. In February 2021, he tweeted a Shiba Inu resembling the Dogecoin mascot, which led to the increase in the market cap by $500 million. Nonetheless, the price of Dogecoin has risen with each positive tweet from the CEO.

The Dogecoin tale

Shortly after the sudden changes, Musk tweeted a meme, which could imply that the meme will stick around for some time.

pic.twitter.com/wmN5WxUhfQ

— Elon Musk (@elonmusk) April 3, 2023

Previously, the CEO and the administrator of the popular r/WallstreetBets SubReddit had a conversation via the Twitter platform concerning Dogecoin. The WSB Chairman asserted:

just buy Twitter and change the bird logo to a doge.

The CEO responded by laughing and noting ‘’that would be sickkk.’’ However, it seems like that was a promise, which he has fulfilled as per his recent tweet.

As promised pic.twitter.com/Jc1TnAqxAV

— Elon Musk (@elonmusk) April 3, 2023

On the other hand, the Dogecoin account couldn’t resist responding to the stirred-up news circulating around social platforms. The Dogecoin noted:

Very Currency. Wow. Much Coin. How Money. So Crypto.

However, throughout 2021, Musk promoted the DOGE through slogans such as ‘’Dogecoin is the father of crypto’’ and claimed himself to be the ‘’Dogefather.’’ Additionally, in 2021, he boasted that the tesla company would make some merchandise buyable with Doge.

The Community Reaction on the Logo changes

Elon Musk’s idea of removing and replacing the Twitter bird logo with DOGE has drawn reactions from various individuals in the crypto space. Some include Coin Bureau, which has called out Musk for trolling out DOGE.

The way Elon trolls the $DOGE community is God-tier level of trolling 😲

— Coin Bureau (@coinbureau) April 3, 2023

However, other traders seem to be displeased with Musk’s decision to change the logo. A pseudonymous trader, who is perceived to be a Bitcoin proponent, took to his Twitter to addressing the CEO’s decision as a ‘’promoter degenerating a get rich quick crap.’’

It is worth noting that Musk is not against Bitcoin. However, he argues that DOGE is better for daily transactions than BTC. This is due to its faster base-layer transaction throughput.

Love Hate Inu

On the other hand, the latest web3 startup vote-to-earn (V2E) meme coin, ‘’Love Hate Inu,’’ continues to perform well in presale. The startup is developing a dog-themed social polling platform powered by cryptocurrencies that will enable users to discuss and vote on the world’s most debated issue. Currently, the team behind Love Hate Inu ($LHNU) has raised $2.6 million for stage 3 of its eight-stage presale.

EXCITING STUFF #LoveHateInu Crew🪅

We have just hit $2.6 million in our #Presale! 👀🤑

Join us now!

Huge announcement once we hit $3M – you heard it here first 😜 https://t.co/Pu2Bo8WOUy #StrangerThings #CryptoCommunity #MemeCoin pic.twitter.com/SZmvavvEcL

— Love Hate Inu (@LoveHateInu) April 3, 2023

The blockchain-based platform has gained popularity, racking up 32.7K followers on Twitter since it set up its account in February. Love Hate Inu has also been gaining popularity on other social media platforms as it constructs the first V2E in the social media space.