Dogecoin Price Surges 23% After Twitter Changes the Bird Logo to DOGE

Dogecoin Price Surges 23% After Twitter Changes the Bird Logo to DOGE

Twitter users saw that the traditional blue bird logo had been replaced by an image of Doge on Monday. The leading meme cryptocurrency, Dogecoin, surged 23% higher against the US dollar after the logo change.

Blue Bird Logo Changes to Shiba Inu Doge

Twitter has updated its logo, replacing it with a picture of the popular Shiba Inu Doge. While the uncertainty over the use of the Doge logo persists, it has become a topic of conversation on Twitter ever since people noticed the change. "Does anyone else see Doge as the Twitter logo?" people tweeted. The news follows Elon Musk’s insistence that a judge should drop the billion-dollar lawsuit and said that tweeting support for Dogecoin is not unlawful.

It also comes at a time when blue checkmark verifications may disappear for Twitter users who do not pay a fee. The original blue bird logo of Twitter is called "Larry T. Bird," and it was inspired by NBA legend and Hall-of-Famer Larry Bird. There was no formal announcement of the logo change, and people believe Elon Musk is behind the move due to his fondness for the famous Shiba Inu meme. 

Eighth Largest Cryptocurrency by Market Capitalization

The meme coin Dogecoin (DOGE), which is the eighth largest cryptocurrency by market capitalization, surged more than 23% on the back of the logo change news. DOGE reached a high of USD 0.1011 per unit on Monday, and USD 1.22 billion in 24-hour global trade volume.

Largely, DOGE is down 28%, but the meme coin has increased by 30% over the last two weeks. "DOGE logo now appears when you log onto Twitter," Twitter users commented. "What is Elon Musk trying to tell us, and how long will it stay there?" the users questioned.

Musk joked about the logo change by sharing a meme that has more than 175,000 likes and over 22,000 retweets. He also shared an image of the Wall Street Bets (WSB) Chairman telling Musk to change the bird logo to Doge last year. Haha, that would be sick," Musk replied at the time.

What is your take on Twitter’s decision to change its bird logo to Doge? Please post your comments.