Bird Out, Doge In: Elon Musk's Twitter Logo Change Causes Dogecoin Surge

Bird out, Doge in: Elon Musk’s Twitter logo change causes Dogecoin surge

Elon Musk, CEO of Twitter, is known for his frequent updates and changes to the micro-blogging site since taking over in October 2022. Now, the billionaire changed the iconic ‘blue bird’ logo with the “doge” meme of the Dogecoin cryptocurrency, featuring the face of a Shiba Inu. Notably, the ‘blue bird’ logo has served as a home button on the web version. The change was noticed by Twitter users on Monday (April 3).

Twitter

Social network company

Headquarters: San Francisco, California, United States
Founded: 21 March 2006, San Francisco, California, United States
Subsidiaries: Twitter Asia Pacific Pte. Ltd., Twitter France SAS, MORE
CEO: Elon Musk (27 Oct 2022)
Founders: Jack Dorsey, Evan Williams, Biz Stone, Noah Glass

Musk posted a humorous image on his account featuring the ‘doge’ meme sitting in a car, informing a police officer who seems to be inspecting his driver’s license that his photo has been altered.

pic.twitter.com/wmN5WxUhfQ

— Elon Musk (@elonmusk) April 3, 2023

No Change on Twitter’s Mobile App

The “doge” meme, an element of the Dogecoin blockchain and cryptocurrency logo that was created as a joke in 2013, is well-known as the logo of the Dogecoin blockchain and cryptocurrency. However, the change was only visible on the web version of Twitter, and the mobile app remained the same. ANI reported citing Variety that Musk had shared a screenshot of a conversation where an anonymous account asked him to change the bird logo to “doge,” and he promised to make the change.

As promised pic.twitter.com/Jc1TnAqxAV

— Elon Musk (@elonmusk) April 3, 2023

Dogecoin’s Value Increased Following the Changes

Musk is a well-known superfan of the ‘Doge meme’ and has been promoting Dogecoin on Twitter and during his appearance hosting “Saturday Night Live.” After the change to Twitter’s web logo, the value of Dogecoin increased by more than 30 percent. On February 15, Musk posted a photograph of the Dogecoin blockchain and cryptocurrency logo on his Twitter account, posing as the CEO, with the caption “The new CEO of Twitter is amazing.”

Musk’s Acquisition of Twitter

In October 2022, Musk took over control of Twitter in a $44 billion deal following a protracted legal battle and months of uncertainty. Initially agreeing to buy the company in April, Musk spent months attempting to get out of the deal, citing concerns about the number of bots on the platform and allegations raised by a company whistleblower. To help fund the purchase of Twitter reports state that Musk sold approximately $8.5 billion worth of shares in Tesla.