USA — On Monday, Tesla and SpaceX CEO Elon Musk, who also owns Twitter following a $44 billion deal last fall, used the social media platform’s design to make a humorous statement.
The iconic Twitter bird logo above the home button on the web version was replaced with the Shiba Inu dog from the Dogecoin cryptocurrency. Although the mobile app version of the logo remained unchanged, the surprise move elicited amusement from Musk’s followers.
The value of Dogecoin futures contracts has experienced a significant increase in liquidations worth up to $26 million in the past 24 hours in a higher-than-usual move, data from Coinglass shows following Twitter’s use of the cryptocurrency’s logo.
Following the change to the Twitter logo on Monday, the value of Dogecoin rose more than 25%. This is the latest instance of Musk’s influence on cryptocurrency values, with his tweets and public statements having caused fluctuations in the values of Bitcoin and other digital currencies in the past.
Elon Musk, the CEO of Twitter, mentioned the change in the logo in multiple tweets and indicated that it wasn’t meant to be a short-lived prank for April Fool’s Day. The updated logo may only be visible to users in the U.S. and Europe, as those in India still see the bird logo, which implies that the logo modification may not have been introduced globally.
Musk marked the comical move by posting his conversation with Twitter user Chairman (@WSBChairmain) back in 2022, prior to his acquisition of the social media company.
The billionaire has often promoted DOGE and implied that the meme-based cryptocurrency might have superior payment capabilities compared to Bitcoin (BTC). The Financial Times reported in January that Twitter was developing a payment system that would allow transactions to be made through the social media platform. – WhatALife!/Jayve
Also read: Elon Musk to resign from position as Twitter CEO
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