Elon Musk's latest slapstick shoots value of Dogecoin cryptocurrency up 20%

Something strange has been happening on Twitter since yesterday, when the users of the popular platform entered like every day to see what was going on, who they had to criticize or what they had to shoot when they noticed something unusual: Doge -the dog meme which represents the Dogecoin cryptocurrency- was in the header replacing the classic blue bird, something that with time has been proven to be a move by Elon Musk in his favor.

Oliver Thansan
Oliver Thansan
04 April 2023 Tuesday 01:25
17 Reads
Elon Musk's latest slapstick shoots value of Dogecoin cryptocurrency up 20%

Something strange has been happening on Twitter since yesterday, when the users of the popular platform entered like every day to see what was going on, who they had to criticize or what they had to shoot when they noticed something unusual: Doge -the dog meme which represents the Dogecoin cryptocurrency- was in the header replacing the classic blue bird, something that with time has been proven to be a move by Elon Musk in his favor.

And it is that Musk has been sued for creating a pyramid scam with Dogecoin, since he is accused of manipulating the price of the cryptocurrency, which he acknowledges that he owns and that he has never sold, so any increase like the one he has had in the last few hours after being the visible face of Twitter is a clear benefit for Elon Musk.

Specifically, last year Dogecoin investors filed a $258 billion lawsuit against Musk for his alleged role in propping up Dogecoin as a trusted cryptocurrency by driving it up 36,000%. Last Friday his team of lawyers asked that the lawsuit be dismissed, calling the accusations a "work of fanciful fiction."

Meanwhile, Musk is posting memes on the subject on his social network profile:

In any case, the effect of Doge reigning on Twitter has been for Dogecoin prices to skyrocket from $0.07 to $0.10, a 30% growth that has not gone unnoticed by thousands of investors around the world. , demonstrating the power that a personality like Elon Musk has to change the value of cryptocurrency.

What has happened in the last few hours on Twitter is that the Doge icon can be seen replacing the blue bird, whose name is Larry, in the menu in the upper left corner of the web. On mobile devices, it replaces the Twitter logo that previously appeared at the top of the screen. Twitter also displays the puppy meme on the loading screen of the web page.

Some speculation indicates that Elon Musk wanted to make this movement coincide with April 1, April Fool's Day in the Anglo-Saxon community, something that would have been delayed until the 3rd, leaving the meme as something out of place but that has had an effect. equally controversial.

In addition, they also point out that Musk would precisely be seeking to "bury" the lawsuit for the manipulation of Dogecoin thanks to this move, making this reference appear instead of their legal battle when searching for "Elon Musk" and "Doge" in the browser. .

This move is not an uncommon move for Musk, who often promotes cryptocurrencies. He himself was the architect of Dogecoin reaching all-time highs in May 2021, when he hosted Saturday Night Live and mentioned the coin on air, sending it rising to $0.74 before quickly plummeting.

The appearance of the Doge as a symbol of Twitter has been received with disbelief and few laughs in general, pointing out the childish behavior of Elon Musk, highly questioned for his latest decisions with the platform that for some experts is showing signs of little life.

In fact, many users laughed at Musk for his supposed attempt to be funny, something that he has not achieved and in any case has contributed to his image of using memes in an unoriginal and even stale way. “It's very embarrassing,” says one user, while another sarcastically criticizes how “epic” it has been to “use the remaining employees of Twitter” to make Doge the new face of the brand.