Many eagle-eyed Twitter followers observed on Monday that the social media platform’s customary blue hen icon had been swapped out for the ever-popular Doge meme.
The illustration of the Shiba Inu canine, which has grow to be the unofficial image for the Musk-backed cryptocurrency Dogecoin, appeared to look randomly, although Musk Tweeted an evidence by referencing an alternate he had with a consumer earlier than he bought Twitter final 12 months.
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The consumer @WSBChairman joked with Musk that he ought to simply “purchase Twitter” and “change the hen emblem to a doge” after Musk requested his followers on the time if a “new platform was wanted.”
As promised pic.twitter.com/Jc1TnAqxAV
— Elon Musk (@elonmusk) April 3, 2023
Musk, who’s been accused of market manipulation for Tweeting about numerous shares and meme cash, appeared to have moved the needle as soon as once more for Dogecoin, which skyrocketed an estimated 20% yesterday after the emblem change.
As of Tuesday afternoon, Doge nonetheless appeared instead of the hen emblem on the social media platform. Dogecoin was up just below 33% in a seven-day interval on the similar time.
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The choice to alter the emblem may not have been fully random, as CNBC reported over the weekend that Musk and his workforce filed to dismiss a lawsuit that accuses the billionaire of operating a “pyramid scheme” to pump up and deplete the Dogecoin valuation by way of his Tweets.
“There’s nothing illegal about tweeting phrases of assist for, or humorous photos about, a reputable cryptocurrency that continues to carry a market cap of almost $10 billion,” Musk’s legal professionals acknowledged, per the outlet. “This courtroom ought to put a cease to plaintiffs’ fantasy and dismiss the grievance.”
Musk was a part of one other Twitter-related class motion lawsuit final summer time, when he was accused by shareholders of being liable for tanking the Tesla inventory after Tweeting that he had “funding secured” to take the corporate non-public.
A jury discovered Musk not chargeable for the losses earlier this 12 months, for which Musk mentioned he was “deeply appreciative.”