See More

Breaking Elon Musk Replaces Twitter Logo With Dogecoin Logo, DOGE Price Surges over 20%

2 mins
Updated by Michael Washburn
Join our Trading Community on Telegram

In Brief

  • Musk roiled the online world on Monday with a Twitter logo swap.
  • The familiar logo has given way to that of Dogecoin.
  • The move happens in the midst of a lawsuit accusing Musk of pumping and dumping the cryptocurrency.
  • promo

Dogecoin got a big bump on Monday when Twitter replaced its familiar logo with the cryptocurrency’s emblem of a shiba inu dog’s head and torso.

The move made waves on Twitter itself, with surprised users sending out tweets expressing their amazement. Some of them speculated that hackers had infiltrated the platform to work mischief.

Another influencer tweeted, “Between the #Moana live action news and the doge logo taking over Twitter, today just turned into pure chaos.”

At 2:50 p.m., Musk himself sent out a tweet. It features an image of the dog in a pulled-over car telling a police officer inspecting a wallet with the iconic Twitter logo, “That’s an old photo.”

Source: BeInCrypto

Some insiders took the change as a sign Elon Musk may be planning to acquire Dogecoin. It might also have been Musk’s way of thumbing his nose at the plaintiffs in a lawsuit targeting Dogecoin and naming Musk as a defendant. The timing of the logo change seems curious. At the end of last week, Musk’s lawyers asked a federal judge in New York to throw out the $258 million lawsuit, which revolved around charges of racketeering.

Calling the lawsuit “a fanciful work of fiction,” Musk’s lawyers sought to have it dismissed.

“There is nothing unlawful about tweeting words of support for, or funny pictures of, a legitimate cryptocurrency that continues to hold a market cap of $10 billion,” the lawyers stated.

The investors suing Musk accuse him of carrying out a pump-and-dump scheme. They argue that he knew the currency had no intrinsic value but drove its value up with tweets.

Since its release in 2013, Dogecoin has battled rumors about its lack of legitimacy. Some consider the currency to have started out as a joke. The $1.21 trillion crypto market still suffers frequent public attacks from the Securities and Exchange Commission (SEC) and state attorneys general.

This is a developing story.

Top crypto projects in the US | June 2024

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

frame_2192__1_.png
Michael Washburn
Michael Washburn is a New York-based managing editor who joined BeInCrypto in March 2023. Over his career, he written extensively about the corporate legal world and the intersection of finance and law, has produced thousands of articles and features, and has mentored many reporters and researchers finding their way in a fast-changing industry.
READ FULL BIO
Sponsored
Sponsored