On Monday, Twitter's iconic blue bird logo was replaced with the shiba inu dog image associated with the Dogecoin cryptocurrency. This change appears to be a late April Fool's day prank orchestrated by the platform's CEO, Elon Musk, who tweeted a meme about the change and shared screenshots of an old conversation where a user asked him to buy Twitter and change its logo to the Dogecoin's mascot.
The logo change comes just days after Musk petitioned a court in the US to dismiss a $258 billion lawsuit filed against him by Dogecoin investors over an alleged pyramid scheme. The plaintiffs claim that Musk knowingly promoted Dogecoin for his own profit despite knowing it had no value since 2019. In response to the logo change, Dogecoin's value spiked by over 30%, reaching its highest value since November last year.
Musk has a history of promoting Dogecoin, often causing its value to fluctuate with his tweets. In February 2021, Musk's tweets in support of Dogecoin led to a 44% surge in the cryptocurrency's price. Tesla, another company owned by Musk, announced in December 2021 that it would accept Dogecoin for some merchandise, causing another spike in the coin's value. Tesla still accepts Dogecoin as payment for certain products and has not sold any of its holdings in the cryptocurrency.
The official Dogecoin Twitter account celebrated the logo change, while also sharing the story of Kabosu, the dog behind the Doge meme and Dogecoin logo. Kabosu, a rescue dog, lives with her owner Atsuko Sato in Japan and became a meme after Sato uploaded photos of her to a blog in 2010.
As the situation unfolds, the crypto community and Twitter users alike are closely watching the outcome of the ongoing lawsuit and the impact of Musk's actions on the future of Dogecoin.