Elon Musk replaces Twitter logo with DOGE – and explodes Dogecoin price
Out of nowhere: Twitter, the social network, quickly changed its logo late Monday evening (April 3) and made a surprising decision – it chose the Dogecoin (DOGE) as its new logo. Considering the recent regulatory investigations surrounding cryptocurrencies, this move by Elon Musk’s company could have many positive impacts on the crypto market, as several media outlets have unanimously reported.
Elon Musk replaces Twitter logo with DOGE
The decision to choose the Dogecoin as the new Twitter logo could mean a huge endorsement for the crypto market as it is likely to be a major promotional event. Furthermore, this decision would also reinforce Elon Musk’s affiliation not only with DOGE but also with the cryptocurrency space. However, it is not clear what the new Dogecoin logo means instead of the Twitter logo. Will it soon be a payment method on Twitter? The rumor mill is bubbling and so is the Dogecoin course, as was the case after the Burger King tweet in the past few days.
Dogecoin price explodes in a very short time
The impact of the new logo on the Dogecoin course was felt immediately. The price rose by more than 22 percent in just a few minutes. As in the past, when Elon Musk mentioned the memecoin in his tweets, there’s a chance the price could see a sustained rally from this move. The cryptocurrency’s price rise could continue throughout the day and depending on the content of the official announcement, it could even rise to $0.10-$0.20.
In particular, this shows that a Dogecoin course forecast, even on the basis of all fundamental and technical chart analyses, is ultimately of little value when Elon Musk comes into play.
Elon Musk continues to fuel the Dogecoin price rally with a quintessential meme post. As a result, the cryptocurrency surpassed the significant $0.10 mark and is now trading at $0.1011. Despite this, there is still no concrete information as to why Twitter has replaced its logo. It remains to be seen how this decision will affect the cryptocurrency market and whether other companies will follow suit.