On April 3, the world’s hottest social media platform, Twitter, altered its profile image to mirror the picture of a well-liked meme token, Dogecoin (DOGE). Solely two days earlier, the 51-year-old CEO of Twitter and Tesla, sought a U.S. choose to quash the $258 billion lawsuit filed by buyers accusing the execution of a pyramid scheme to advertise Dogecoin. The buyers alleged that Musk fueled the worth of DOGE by way of using a Ponzi scheme.
What Made Twitter Change Its Emblem?
Whereas the crypto neighborhood is startled over the sudden Twitter transfer, Elon Musk tweeted a display seize of a Twitter thread the place he was seen conversing with the WSB Chairman, a famous inventory dealer. The dialog dates again to the pre-Twitter buyout deal the place he inquired concerning the necessity of a brand new micro-blogging platform that might compete with Twitter as a substitute. In response, WSB remarked to “simply purchase twitter” and steered altering the chook brand to a Dogecoin as a substitute. Following as we speak’s newest growth, Musk captioned his tweet with the phrase “as promised”.
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One other group of speculators believes it to be one in all Musk’s dire makes an attempt of enjoying the April idiot’s prank — albeit delayed. Nonetheless, few additionally consider it to be a particularly well-thought and sensible transfer by the tech mogul, provided that Twitter was flooded with jokes and pranks of all sizes throughout industries on April 1. It’s suspected that Musk intentionally executed the prank late so as to take his hundreds of thousands of Twitter customers without warning.
As promised pic.twitter.com/Jc1TnAqxAV
— Elon Musk (@elonmusk) April 3, 2023
DOGE Worth Rallies On Twitter Emblem Change
As a direct consequence of this, the worth of Dogecoin’s native token, DOGE, surged by roughly 25% because it virtually breached the coveted $0.1 worth mark. As well as, the memecoin overtook Polygon (MATIC) in market cap to clinch the eighth place on CoinGape’s crypto market tracker. Nonetheless, on the time of writing, the worth of DOGE skilled slight exhaustion because it dropped by 5.56% and is at present exchanging palms at $0.091.
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