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Dogecoin jumps after Elon Musk replaces Twitter bird with Shiba Inu

In a surprising turn of events, Twitter’s iconic bird logo has been replaced by an image of a Shiba Inu, a breed that has become synonymous with the meme-based cryptocurrency Dogecoin. This shift comes amidst ongoing legal challenges for CEO Elon Musk, who is facing a lawsuit related to his promotion of Dogecoin. The new logo not only marks a significant branding change for the social media platform but also highlights Musk’s ongoing influence in the cryptocurrency world, where he has been a vocal supporter of Dogecoin, often using his Twitter account to promote it.

The decision to swap the bird for a Shiba Inu has sparked a wave of reactions from Twitter users, with many expressing confusion while others embraced the playful nod to the cryptocurrency community. Dogecoin, which started as a joke in 2013, has gained substantial traction and a loyal following, partly due to Musk’s endorsements. The legal troubles Musk faces stem from allegations that he manipulated the price of Dogecoin through his tweets, leading to significant financial losses for investors. This logo change may be interpreted as a bold statement of Musk’s commitment to Dogecoin, despite the legal scrutiny surrounding it.

This move also raises questions about the future direction of Twitter under Musk’s leadership. Since acquiring the platform, he has initiated several controversial changes aimed at revitalizing Twitter’s user base and monetization strategies. The Shiba Inu logo could be seen as part of a broader strategy to attract cryptocurrency enthusiasts to the platform, potentially transforming Twitter into a hub for crypto discussions and transactions. As the legal case unfolds, the implications of this rebranding could be significant, not just for Twitter’s identity but also for the relationship between social media and cryptocurrency markets.

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