HomeCryptocurrenciesDogecoin Price Jumps 35% After Twitter Icon Change

Dogecoin Price Jumps 35% After Twitter Icon Change

You might have noticed something strange when you open Twitter. Instead of the recognizable blue bird, the social media platform now dons an icon of the Shiba Inu dog. The particular icon is associated with Dogecoin cryptocurrency, which has seen a 35% jump in price since the change.

New Twitter owner Elon Musk is a longtime supporter of Dogecoin and has been known to hold large amounts of the meme coin in the past. According to Musk’s Twitter post shared on Monday, the icon change is a result of a promise he made to one follower last year.

Back in March 2022, Musk asked his followers if there was a need for a new platform to replace Twitter. The user @WSBChairman suggested that the Tesla CEO instead buys Twitter and change “the bird logo to a doge.”

“Haha that would sickkk,” Musk responded at the time.

While perceived as a funny exchange at the time, it is obvious that Musk doesn’t forget his promises.

Dogecoin traded around $0.07 on Monday but soared to $0.10 after the icon change happened. The coin was created in 2013 by a pair of software engineers as a “joke” and commentary on the wild speculation that was happening in the world of cryptocurrencies. However, Dogecoin met with the widespread acceptance by the internet community and reached a market capitalization of $85 billion at one point in 2021.

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