Doge to the moon! Cryptocurrency surges 30% after Elon Musk replaces Doge with Twitter logo

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Elon Musk took the world by surprise when he changed Twitter’s blue bird logo to Shiba lnu dog, the logo for the much-discussed cryptocurrency, Dogecoin. This change proved pleasant for the cryptocurrency, as it soared over 30% within minutes.

Dogecoin went from $0.077 to $0.10 in 30 minutes. According to CoinMarketCap.com, dogecoin is the eighth most valuable cryptocurrency, with a market cap of over $13 billion.

However, the piece was only created as a joke. Musk has been joking about the piece for years now. He even started the #DogeToTheMoon hashtag on Twitter, which is trending again.

But is it a wise decision?

The logo swap comes days after lawyers for Twitter and Musk asked a federal judge to launch a $258 billion lawsuit from 2022 that accused the billionaire of manipulating the price of dogecoin and to have increased it by more than 36,000%.

Musk confirmed his decision to change the logo in his style – tweeting a meme about it while doing a dig at the US SEC.

pic.twitter.com/wmN5WxUhfQ

— Elon Musk (@elonmusk) April 3, 2023

Musk also tweeted a screenshot of an old chat and said, “As promised.”

As promised pic.twitter.com/Jc1TnAqxAV

— Elon Musk (@elonmusk) April 3, 2023

In December 2021, Tesla announced that it would accept dogecoin for certain merchandise. At the time, Musk said on Twitter that Tesla would “see how it goes.”

Dogecoin is up over 20% after this tweet. In January 2022, when Musk announced on Twitter that dogecoin payments were live, the cryptocurrency jumped 15%.

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