Dogecoin Sinks after Twitter’s Logo Switch
Cryptocurrency traders reacted negatively as Dogecoin sinks following Twitter’s logo display switch doge, sparking reactions among retail and corporate investors.
Dogecoin’s display on Twitter came to an end earlier today after the social media platform took down the meme coin’s iconic Shiba Inu mascot and replaced it with their bluebird.
The logo was put up on Twitter’s homepage earlier this week and was visible to select users. Seeing DOGE’s logo sparked considerable excitement and speculation among the crypto circles on Twitter.
A few hours after, Twitter is no longer displaying a picture of a Shiba Inu dog.
The logo changed back on Thursday to its classic blue bird logo. Dogecoin supporters no longer appear able to count on Twitter to help elevate their dog-themed cryptocurrency’s image, or apparently its price.
As of Thursday evening, Twitter had switched back to its classic blue bird logo from a Shiba Inu image displayed earlier in the week, and the price for dogecoin dropped to $0.086 from $0.09 late Thursday, down 8.46% in the past 24 hours, according to CoinDesk data.
Elon Musk has long been a supporter of dogecoin. It is currently the only digital asset that can be used to purchase merchandise from another of his companies, Tesla Inc. (TSLA).
In 2021, he jokingly called dogecoin a “hustle” on NBC’s “Saturday Night Live.”
Crypto Twitter was quick to interpret DOGE’s logo on Twitter as a sign of the meme coin potentially becoming a mode of payment on the social media platform. Some argued that it was likely a belated April fool’s prank. #Dogecoin Sinks after Twitter’s Logo Switch