Twitter’s Logo Change Triggers DOGE Price Dip
Dogecoin, the meme-inspired cryptocurrency that has gained a cult following and the attention of Elon Musk, suffered a setback on Tuesday as Twitter stopped featuring its cartoon dog as the platform’s logo. The move, which Twitter said was part of a broader redesign, sent DOGE tumbling 7.3% to about 8.6 cents, and briefly as low as 8.5 cents.
Surprise Surge After Musk-Backed Rebranding
The shift to a generic “person” icon caught many DOGE enthusiasts off guard, given that Twitter CEO Jack Dorsey and Musk had recently engaged in online banter about the cryptocurrency, with Musk calling it “the people’s crypto”. In fact, just a few days earlier, on April 3, the price of DOGE had surged to as high as 10.5 cents after Musk’s rocket company SpaceX announced it would launch a lunar satellite mission paid for with the cryptocurrency. That same day, Twitter had replaced its iconic blue bird logo with a stylized image of the Shiba Inu dog that inspired the DOGE meme. However, Twitter’s subsequent reversal appeared to have erased much of the gains, at least for now.
Mixed Reactions from DOGE Community
The Twitter logo change sparked a mix of disappointment, confusion and conspiracy theories among DOGE supporters on social media. Some suggested that Twitter had caved in to pressure from regulators or rivals, while others speculated that it was a strategic move to distance the platform from DOGE’s volatility or to signal support for non-fungible tokens (NFTs), which also feature prominently on the new Twitter design.
Nevertheless, DOGE’s roller-coaster ride is not over yet, as it remains one of the most popular and unpredictable cryptocurrencies in the market. Whether it can recover from the latest dip and resume its quest for the moon remains to be seen.
Source: CoinDesk
