Twitter fans went into a frenzy when CEO Elon Musk changed the bluebird emblem on the social media network with the mascot of the digital currency, the Shiba Inu. Unsurprisingly, #TwitterLogo was one of the most popular trending topics, as people reacted to the overnight logo change.
Several individuals claimed Musk modified his emblem to honor Floki, his Shiba Inu.
“It appears #Floki wants to have some fun,” the Floki cryptocurrency account tweeted.
Immediately following the logo redesign, the value of the cryptocurrency Dogecoin increased by more than 30 percent. Dogecoin is represented by a Shiba Inu named Kabosu.
Not for the first time, Elon Musk’s tweets have sent crypto values soaring.
Musk announced his pet as the “new CEO of Twitter” in February by publishing a photo of the dog sitting in the CEO’s chair. Forbes magazine noted that the price of memecoins, which are spoof cryptocurrencies, surged. According to CoinMarketCap, an authority on crypto-related statistics, its market cap increased by almost $500 million.
In January of last year, Dogecoin’s value increased by over 26% when Musk tweeted that the currency could be used to purchase Tesla items.
Investors accused Musk, the second-richest person in the world according to Forbes, of artificially inflating the price of Dogecoin by more than 36,00% over two years and then allowing it to plummet.